Number of appeals on suspicious and current transactions increases in Azerbaijan

Business Materials 10 January 2014 17:29 (UTC +04:00)

Baku, Azerbaijan, Jan. 10
By Abbas Akhundov - Trend:

The Financial Monitoring Service under the Azerbaijani Central Bank (CBA) received data on 33,700 suspicious and current transactions in November 2013 compared to 27,386 in November 2012.

The number of appeals increased 23 percent per annum, the statistical report of the service said.

The service received 32 600 notifications in October 2013. The service has received a total of 311,496 since early 2013, according to the report.

Monitoring of the service covers the activities of credit, insurance and reinsurance organisations, professional participants of the securities market, pawnshops and investment funds, as well as transactions with precious metals and stones and purchase of products.

It also covers the activities of NGOs and religious organisations, organisers of lotteries, individuals providing sales services of immovable property, as well as lawyers, accountants, real estate transactions, client money, securities and property, client banking and deposit accounts.

The Financial Monitoring Service under the CBA was established on February 23, 2009.

translated by NH
edited by SM