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Abbas Ganbay

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The Council of Europe's Committee of Experts on the Evaluation of Measures to Combat Money Laundering and the Financing of Terrorism (MONEYVAL) has published a long-awaited evaluation report on Azerbaijan, Azernews reports.

The report assesses the work done in Azerbaijan over the past five years on several criteria and the successes achieved. The work done is also recognised as acceptable. Various recommendations were given on further work in these directions.

The work done in the field of investigating terrorism financing offences was highly appreciated.

The document notes that Azerbaijan has achieved a high level of efficiency in combating the financing of terrorism. The authorities have demonstrated their ability to successfully investigate terrorist financing offences (seven convictions were issued during the evaluation period).

It is worth noting that this is the first time MONEYVAL's investigation of terrorist financing crimes in Azerbaijan has been highly appreciated.

In recent years, the criminal case results conducted by the Azerbaijan State Security Service regarding terrorism financing and related crimes significantly exceeded the similar average statistics of the member states.

The Azerbaijan Republic was the only country that was evaluated as a high indicator of the effectiveness of the terrorist financing crimes investigation among the countries that MONEYVAL published evaluation reports for during the last year.

Despite being in a complex geopolitical space, the stability and peace established as a result of successful state policies, as well as the resolute work carried out in recent years in the direction of the fight against terrorism and terrorist financing, make Azerbaijan an attractive country for investment and tourism in the international arena. As head of state Ilham Aliyev said, "Azerbaijan has earned the image of a "security island".

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