Azerbaijan's Central Bank approves guidelines for assessing institutional risks

Azerbaijan's Central Bank of Azerbaijan has approved a methodological guide for assessing institutional risks in financial institutions in the context of legalization of property obtained by criminal means, financing of terrorism and proliferation of weapons of mass destruction, Report informs referring to the bank.

The document is aimed at improving the methodological literacy of financial organizations and ensuring compliance with national legislation and international standards.

The methodology provides for regular identification and analysis of risks associated with illegal financial transactions, as well as the introduction of effective mechanisms for monitoring and reducing threats.