Azerbaijan expects improved MONEYVAL assessment, says tax service official

Azerbaijan anticipates progress in its upcoming MONEYVAL evaluation, thanks to coordinated efforts in combating money laundering and terrorism financing, according to Deputy Head of the State Tax Service, Samira Musayeva, Report informs.

Speaking at an international scientific and practical conference in Baku, Musayeva stated that 85% of the objectives outlined in the 2023–2025 National Action Plan against money laundering and terrorism financing have been fully implemented, with another 5% partially completed.

She emphasized that the success stems from effective collaboration among supervisory authorities. "Azerbaijan is currently undergoing another round of evaluation by MONEYVAL. Based on preliminary forecasts, we expect improvements in several performance indicators and an overall enhancement in the country’s rating," Musayeva said.

The State Tax Service, she added, conducts ongoing assessments of relevant legislation, administrative practices, and implementation progress. "Initial evaluations suggest an upward trend, which we expect to be reflected in the final report."

MONEYVAL, the Council of Europe's expert committee, evaluates countries' compliance with international standards on anti-money laundering and counter-terrorist financing. Azerbaijan has been a participant in the committee's activities since 2002 and has completed five rounds of evaluation to date.