Azerbaijan successfully concludes 5th round evaluation by MONEYVAL Committee

The Republic of Azerbaijan has achieved a successful conclusion to the 5th round evaluation process conducted by the MONEYVAL Committee of the Council of Europe. The evaluation took place during the 66th plenary meeting held in Strasbourg, France, from December 11 to 15 of this year, where the draft of the final report on Azerbaijan's mutual evaluation was presented and discussed.

Over the past five years, Azerbaijan has demonstrated significant progress in the field of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). The accomplishments and efforts in this area were thoroughly discussed and positively evaluated by MONEYVAL.

Following extensive deliberations, discussions, and recommendations for further improvements in the AML/CFT system, the evaluation report was officially accepted.

The evaluation process commenced in March of the preceding year with evaluators visiting the country. The technical compliance of Azerbaijan's AML/CFT system with FATF standards, as well as its efficiency and effectiveness, were scrutinized.

In preparation for the MONEYVAL plenary session, relevant discussions and meetings with evaluators were organized in accordance with the standard procedure for the preparation of the draft report.

Beyond the evaluation, the 66th plenary session of the MONEYVAL Committee continued its work by discussing various important issues on its agenda.

Azerbaijan was represented by a delegation led by Mr. Zaur Fatizade, Chairman of the Executive Board of the Financial Monitoring Service. The delegation included specialized representatives from the Central Bank, the General Prosecutor's Office, the Ministry of Justice, the State Tax Service, and the State Security Service.