12:17 - 28.09.2022

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September 28, Fineko/abc.az. Persons engaged in illegal money transfers from Azerbaijan to foreign countries will be imprisoned for period of 5 years.

ABC.AZ reports that this was reflected in the amendment to the Criminal Code, discussed on 22 September in the 1st reading by the Milli Majlis Committee for Legal Policy & State Building.

The amendment adds new article 206-1 to the Code (activities for illegal transfer of money from Azerbaijan to a foreign country or from abroad to Azerbaijan).

Under the new article, illegal activity of transferring money from Azerbaijan to a foreign country or from abroad to Azerbaijan without signs of a crime envisaged in Article 206 of the Code, by way of compensation or other means of mutual settlements, when committing these actions in significant amounts, is punishable by a fine of 40% of the value of the object of the crime or restriction freedom for up to 2 years with a fine of 40% of the value of the object of the crime.

The same acts committed by an official using his official position and committed on a large scale are punishable by a fine of 40% to 60% of the value of the object of the crime or by restriction of liberty for a period of 2 to 4 years with a fine of 40% of the value of the object of the crime or imprisonment for up to 3 years.

The acts envisaged in Articles 206-1.1 and 206-1.2 of the Code, committed on particularly large scale, will be punished by restriction of liberty for the period of 3 to 5 years with a fine of 40% to 60% of the value of the subject of the crime or imprisonment for the period of 3 to 5 years.

The draft amendment to the Code was recommended to the plenary session of the Parliament.