11:38 - 23.05.2025

---

May 23, Fineko/abc.az. Countering money laundering and terrorist financing has become one of the key areas of activity of the supervisory authorities of Azerbaijan in recent years.

ABC.AZ reports, quoting Zaur Fatizade, chairman of board of the Financial Monitoring Service, as saying this at an international scientific and practical conference.

He noted that the fight against ML/FT is not only the task of law enforcement and the financial sector, but also an important factor for legal stability, economic security and the international reputation of the state. These processes carry risks of corruption, shadow economy, conflicts and social instability.

He added that coordination of government agencies has been strengthened in Azerbaijan, a risk-based approach is being applied, and information exchange within the international framework has been expanded. The role of financial analysis as a source for initiating investigations is also growing.

Fatizade stressed the importance of strengthening audit control: auditors should not only ensure transparency, but also identify risks in advance. He called for standardizing references to CML/TF risks in audit reports.

In conclusion, he noted that the success of the struggle is determined not only by the mechanisms, but also by the honesty, experience and dedication of the specialists behind them.