The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published the long-awaited evaluation report on Azerbaijan.
The report stresses Azerbaijan's success over the last five years across a variety of parameters, recognizing achievements and making recommendations for future endeavors.
"MONEYVAL recognizes Azerbaijan's significant progress in combating terrorist financing, emphasizing the authorities' successful investigation of such crimes (seven instances were prosecuted during the evaluation period). Furthermore, Azerbaijan has displayed extraordinary effectiveness in international cooperation, with state officials being lauded for constructive aid and outreach to other nations," the report reads.
In recent years, the results of criminal proceedings initiated by Azerbaijan's State Security Service against terrorism financing and related offenses have increased significantly, exceeding the average statistics of EU member states.
Furthermore, Azerbaijan was the only country recognized as having a high performance indicator in detecting terrorism financing charges among those whose evaluation reports were published by MONEYVAL in the previous year.
