As part of the mutual evaluation of Azerbaijan, a team of evaluators from the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) carried out an on-site visit to Azerbaijan from 1 to 15 March 2023. The assessment team is composed of MONEYVAL experts with legal, financial and law enforcement experience, assisted by members of the MONEYVAL Secretariat.
The purpose of this mutual evaluation is to assess the country's technical compliance and effective implementation of the international anti-money laundering and combating the financing of terrorism (AML/CFT) standards, in accordance with the 2013 Financial Action Task Force (FATF) methodology.
After having been received on the opening day of the evaluation by the Deputy Prime Minister of the Republic of Azerbaijan, Mr Ali Ahmadov, the assessment team met with the authorities responsible for Azerbaijan’s anti-money laundering and counter-terrorist financing (AML/CFT) system (i.e. competent ministries, criminal justice and operational agencies, financial sector bodies and supervisors of businesses and professions with AML/CFT obligations). The assessment team also met with representatives of the private sector (including banks, management companies, tax advisors, auditors, notaries etc.) and representatives of non-profit organisations.
The report is scheduled for discussion and adoption at the 66th plenary meeting of MONEYVAL in December 2023.