For violating the laws against the legalization of property obtained by criminal means and the financing of terrorism – a fine of 20 thousand manats
For violating the laws against the legalization of property obtained by criminal means and the financing of terrorism – a fine of 20 thousand manats
The Central Bank of Azerbaijan (CBA) has taken significant steps to ensure compliance with laws on combating illegal financing by imposing fines on two non-bank credit institutions, Finca Azerbaijan and PSG Finance, for violations of financial legislation. This action underscores the Central Bank's continued commitment to combating money laundering and terrorist financing in the country.
Finca Azerbaijan was found guilty of violating laws aimed at preventing the legalization of criminally obtained property and the financing of terrorism. A comprehensive audit conducted by the Central Bank of Azerbaijan revealed numerous violations, as a result of which the Nasimi court imposed a fine of 20,000 manats. In addition, a high-ranking employee of the organization was personally fined 2,000 manats.
On the other hand, PSG Finance faced tougher sanctions for similar violations, and the Khatai court imposed a fine of 100,000 manats.
Economics
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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