07.09.2010 10:39

http://abc.az/eng/news_07_09_2010_47767.html

Baku, Fineko/abc.az. High-ranking representatives of the  Financial Action Task Force on Money Laundering (FATF) of the Organisation for Economic Cooperation and Development (OECD) arrived in Azerbaijan.

The  Financial Monitoring Service (FIU) at the Central Bank of Azerbaijan (CBA) informs,  within the framework  of the visit, scheduled for  September 7-8, representatives of FATF will get familiarized with measures of Azerbaijan on resistance  for legalization of the money received illegally  and financing of  terrorism. Representatives of FATF will meet  in the Cabinet of Ministers, CBA, FIU, the Ministry of National Security, the Administration of the General Prosecutor’s Office for struggle against corruption, the State Securities Committee (SSC), in commercial banks within the framework  of the mission.

“Main subject of discussion will be getting familiarized with progress of Azerbaijan in the field of resistance to money-laundering, discussion to this problematics with the authorized bodies,” it was informed.

In 2009,  140 countries close to membership in FATF, were divided into three  groups: having essential shortcomings to which sanctions should be applied; having gaps and not cooperating with FATF; having gaps, but possessing political will and  special plan of actions to abolish them.

Azerbaijan is referred to the third group of the countries.

The third group, namely inclusion of Azerbaijan and rupture between mutually coordinated the plan of actions on abolishment  were approved. In June, 2010,  FATF noted  successes of Azerbaijan in implementation  of the plan of actions at its  plenary session, including perfection of the national legislation and growth  of functionality of FIU.

It was considered expedient to begin procedure for withdrawal  of the country from under supervision. In order to adopt this decision, the  mission was  directed to the country for  detailed appraisal  of fulfillment  of recommendations of  international organizations and results of actions. The mission is important by that a decision was taken to start procedure of withdrawal  from the list of the countries, being under supervision, only in regard to  Azerbaijan and Qatar from 25 countries of the third group of cooperation and it was not made regarding  Greece, Turkey and Ukraine.

“Depending on results of the mission, it is expected that a  decision will be adopted on full withdrawal of Azerbaijan from the list of “the countries, needing special attention of FATF’’,” it was informed.