Baku. 8 September. REPORT.AZ/ Azerbaijan will apply an innovation in fight against legalization of criminally obtained funds or other property as well as against terrorism financing.
Report informs, addition of Item 0.7 to Article 598 of the Administrative Offences Code is proposed.
According to the item, officials will be fined in the amount from 800 AZN to 1 500 AZN, legal persons from 8 000 AZN to 15 000 AZN for failure to take measures, which defined in the law 'On fight against legalization of criminally obtained funds or other property as well as against terrorism financing' for freezing of assets of the persons, including of the legal persons under ownership or control of these persons or of physical and legal persons, acting on behalf of these persons or under their instruction, which must be imposed a sanction within the fight against terrorism financing by monitoring participants and other persons, attending the monitoring as well as for failure to implement the decision on freezing the assets of the financial monitoring body.
The draft was recommended to plenary meeting.