Agreement to Combat Money Laundering Approved with Russia and Macedonia

Azerbaijani President Ilham Aliyev has approved two decrees of the agreement the Financial Monitoring Service under the Central Bank with similar services in Russia and Macedonia against the legalization of proceeds from crime and the financing of terrorism.

In 2009 Azerbaijan adopted the law "On combating illegally obtained funds or other property legalization and financing of terrorism", and there is a corresponding decision of the Cabinet of Ministers, regulations and orders of the Ministry of Taxes, General Prosecutor's Office, and the State Customs Committee. On an international scale there are a number of documents, including two Strasbourg Conventions of the Council of Europe (1999) - on civil and criminal liability for corruption, the Warsaw Convention 2005 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing Terrorism and others.

However, despite this, the international research recorded multi-billion USD transfers of illegally obtained funds from Azerbaijan to offshore zones. -0—