News
                              

List of designated persons
                               

Non-cooperative countries
                              

E-learning
                              

Send Report


At present, trade with securities, direct and portfolio investments constitute an important part of transactions conducted in financial markets.  Therefore, these areas of the financial market are pretty attractive in terms of money laundering.In Azerbaijan, the measures on formation and development of securities market in accordance with development of civilized market relations are underway . Being a regulatory government body for this market, the State Committee for Securities also carries out the control over observance of AML/CFT legislation requirements by brokers who professionally participate in the securities market and those who are engaged in the professional management of securities, lottery organizers and investment funds.

Since the initial stage of its activity, the Financial Monitoring Service has cooperated with the State Committee on Securities.

Thus, methodical support activities were undertaken within the joint cooperation of the State Committee for Securities and the Financial Monitoring Service to assist the professionals of the securities market on their obligations on AML/CFT legislation.  At the same time, the employees of the State Committee for Securities together with the employees of the Financial Monitoring Service were involved in the trainings and seminars on important AML/CFT issues delivered by international experts.

The Memorandum of Understanding on mutual cooperation in AML/CFT field was signed in May 2010 between the State Committee on Securities and the Financial Monitoring Service.

According to the Memorandum of Understanding, the parties carry out mutual information exchange on the instances of non-observance of AML/CFT legislation requirements by monitoring entities and on the measures for elimination of such facts. Overall, the State Committee for Securities and the Financial Monitoring Service reached an agreement on practical mechanisms for cooperation in 11 areas based on the Memorandum of Understanding.