A workshop to present the risk assessment methodology for banking sector and sector-specific guidelines for the application of risk-based procedures within the framework of the PGG project “Strengthening the Anti-Money Laundering in Azerbaijan" took place on 2 November 2018 in Baku, Azerbaijan. The event is a direct follow-up to the 3-day scoping mission by the Council of Europe expert which took place in Baku, Azerbaijan, on 24-26 September 2018. First half of the day focuses on supervisory bodies and their role carrying out risk assessments, while the afternoon session is specifically tailored for representatives of banks.

The event brings together representatives of the Financial Market Supervisory Authority, Financial Monitoring Service, as well as compliance officers of 30 commercial banks operating in Azerbaijan to jointly discuss the methodology and guidelines with an aim to support Azerbaijan’s compliance with international recommendations with reference to the application of the risk-based approach for the banks.