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Who we are?

The Financial Monitoring Service was established as an independent structural unit under the Central Bank of the Republic of Azerbaijan by the Decree of the President of the Republic of Azerbaijan numbered 66, dated February 23, 2009.

According to the Decree of the President of the Republic of Azerbaijan numbered 95, dated May 25, 2018 Financial Monitoring Service was established as an independent public legal entity in order to improve the potential of relevant government agencies which are taking measures against legalization of criminally obtained funds or other property and financing of terrorism, to create a coordination mechanism for effective connection of activities, to increase the efficiency of cooperation and information exchange among them and to widen the international cooperation.

Financial Monitoring Service is the authority that implements the powers identified by the legislation on the prevention of legalization of criminally obtained funds and other property and financing of terrorism and participates in policy formulation in the relevant field.

Functions

Financial Monitoring Service:

  • participates in formulation of the overall policy in the relevant field and implements it;
  • implements regulation and supervision in the relevant field;
  • implements national risk assessment, coordinates activities of state bodies and agencies in this direction;
  • coordinates the activity of monitoring entities, other persons involved in monitoring, supervision authorities and other state authorities in the relevant field, collects and analyses information received from them;
  • ensures the application of an integrated information system in the relevant field;
  • participates in approval of by-laws in the relevant field and preparation of relevant draft legal acts;
  • ensures development of the AML/CFT system.

 

Our mission:

To support the fight against the legislation on the prevention of legalization of criminally obtained funds and other property and financing of terrorism through receipt, analysis and exchange of the information from reporting entities.

 

Our strategic vision:

To transform Financial Monitoring Service into a financial intelligence unit that meets modern requirements.