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Increasing Information on Suspicious Financial Transactions
Being in the process of liquidation (its functions have been transferred to the Financial Market Control House - FMCH), the Financial Monitoring Service under the Central Bank of Azerbaijan issued a final report for the past year. This document has been voiced by the new regulator of the financial market.
According to an official statement, compared to the year 2014, the information on suspicious and current operations increased by about 12% - from 415,000 to 465,668 reports by the end of 2015.
The Financial Monitoring Service of Azerbaijan was established in 2009 on the basis of the UN initiative in the framework of the international fight against the financing of terrorism and dirty money laundering.
Its functions were passed to FMCH in March 2016. --17D-
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