On October 9, 2024, within the framework of the International Forum of Financial Intelligence Units of Turkic States held in Shusha, a Memorandum of Understanding (MoU) was signed between the Financial Monitoring Service of Azerbaijan and Hungary’s National Customs Administration, which serves as the country’s financial intelligence unit. The MoU focuses on combating money laundering, related predicate offenses, and the financing of terrorism (AML/CFT).

This agreement represents a significant step toward strengthening global efforts to combat financial crimes. Aimed at contributing to the security and stability of the global economy, the MoU seeks to establish mutually beneficial relations between the two entities and enhance the effectiveness of information exchange in AML/CFT activities.

The signing of this document also marks a new phase of deeper collaboration in AML/CFT between the two countries, building upon their existing diplomatic relations and paving the way for more intensive cooperation in the fight against financial crimes.