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Training held for employees of supervisory bodies

 On March 2, 2021, as a part of the preparation for the 5th round MONEYVAL evaluation for Azerbaijan, the Financial Monitoring Service conducted an online training aiming at enhancing the relevant knowledge and skills of the representatives of supervisory authorities. 

In order to improve the effectiveness of anti-money laundering and counter-terrorist financing (hereinafter AML/CFT) measures, topics such as understanding ML/FT risks in Azerbaijan: key principles of national risk assessment, risk-based approach on AML/CFT, risk of abuse of NGO sector to terrorism financing  and  others  were discussed during the seminar.

The participants were provided with comprehensive information on supervision and regulation of monitoring entities, transparency of legal entities and beneficial ownership, targeted financial sanctions against the proliferation of weapons of mass destruction, and international cooperation within the AML/ CFT during the training as well. The seminar was followed by an interactive Q&A session.