Preventing employee fraud is one of the popular types of insurance this year. From January to August of last year (mainly the financial sector) they have started to pay premiums - insurers received on contracts 290,870 manat, without paying a penny for the lack of insurance claims. But in this year's awards totaled AZN 834,010 and compensation - 2,216,940 manats.
In this case, it is not about fraud against customers (those legally employed all financial institutions), and in respect of the employer. According to experts, most of these actions comes from the material unsatisfied employees and is aimed at companies which pay little attention to compliance with the letter and spirit of the law. Another common phenomenon is an alliance of the executive director with executives and middle managers to the detriment of the founder.
In Azerbaijan, common fraud on the trust of employees is by drawing up false documents using letterhead and seals of the employer, cashing fees, stock market speculation, the abuse of customer deposits, bank card fraud, and so on. - 17D-
Economics
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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