Paris, 23 February 2024

According to Article 9.3 of the Law of the Republic of Azerbaijan on Combating the Legalization of Criminal Assets and the Financing of Terrorism (AML/CFT), obliged entities shall implement the measures specified in the calls of FATF.

High-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and, in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the money laundering, terrorist financing, and proliferation financing (ML/TF/PF) risks emanating from the country.

In the most severe cases, countries are called upon to take countermeasures to protect the international financial system from ML/TF and proliferation financing risks emanating from the country. 
Appropriate countermeasures should be applied to transactions and business relationships with countries deemed high-risk by the FATF.
The aforementioned FATF statements are posted on the official website of the Financial Monitoring Service
(http://www.fiu.az/fatf-state)