• Parliament approves draft envisaging new penalties in fight against terrorism

Today's plenary session of Milli Majlis (Azerbaijani Parliament) has discussed the draft amendments to the Code of Administrative Offenses.

Report informs, according to the draft, not only monitoring participants and other persons involved in the fight against terrorism financing, but also legal entities and individuals, and government agencies, who do not take necessary measures or fail to comply with the decision to freeze assets of the financial monitoring body will be subject to administrative liability.

It was noted that the draft was prepared for the implementation of the recommendation of the Committee of Experts on Assessment of Money Laundering and Terrorism Financing of the Council of Europe(MONEYVAL).

Moreover, according to Article 598.7 of the Code, officials will be penalized from 1,500 AZN to 2 500 AZN, legal entities from 15,000 AZN to 25,000 AZN.

The draft amendment was adopted by voting.

Karabakh Today

13.02.2018 17:52
Category Analysis