Azerbaijan suspends activity of international money transfer system

Baku. 25 December. REPORT.AZ/ Financial Market Supervisory Authority (FIMSA) analyzes the activity of money transfer systems in the country and oversees their trustworthiness and security.

Report informs, the FIMSA has stated. 

According to the statement, as a result of investigation carried out by the FIMSA it was determined that money transfer system MoneyPolo without the recognition norms of international law and territorial integrity of our country performed an illegal money transfer to territories remaining under occupation, thus making it an important tool for money laundering and financing the terrorism.

Considering the aforementioned, all the banks and Azərpoçt LLC operating in Azerbaijan were instructed to cease business cooperation with this money transfer system.