Most of dirty financial transactions associated with large sums

The Financial Monitoring Service (FMS) at the Central Bank of Azerbaijan in 2011-2013 received 829,501 data items on suspicious and current operations.

According to the annual report for the last year 52% of the submitted information concerned the operations of individuals, 48% - legal entities. By the end of 2012, the figures were 54% and 46%. The Service has information on operations carried out in 12 currencies, among which leads AZN (83.2% of the operations) followed by the United States Dollar - 14.7% and the euro - 1.6%, while other currencies account for 0.5%.

The report emphasizes the "dominance" (63% of the data) of major operations in the amount of from 20,000 to 100,000 manat. In the past year there was considered suspicious information on 603 operations (0.2% of all operations), totaling 113.9 million manat. Turnover on high-risk operations in the past year amounted to 230.1 million manat.

The Financial Monitoring Service was established in Azerbaijan in 2009 and is the central body in the fight against the financing of terrorism and laundering of "dirty money". --17D-

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