Baku workshop discusses combating money laundering and terrorism financing

BAKU, 31 March 2003 - Participants at Azerbaijan's first National Workshop on Combating Money Laundering and Suppressing Financing of Terrorism agreed on the need for effective measures to fight against those crimes.

The two-day event, which ended last Friday, brought together some 50 high-level representatives of various national and international institutions. It was organized by the OSCE Office in Baku in co-ordination with the Global Programme Against Money Laundering of the United Nations Office on Drugs and Crime (GPAML/UN ODC) and the Co-ordinator of OSCE Economic and Environmental Activities.

The event was aimed at promoting the adoption of comprehensive legislation and the creation of effective structures for financial analysis, criminal investigation and prosecution, as well as of procedures that are consistent with principles of good governance and the rule of law.

The Head of the Department on Work with Law Enforcement Bodies of the Presidential Administration, Fuad Aleskerov, stressed the need to improve the country's legislation.

"We have been working to bring Azerbaijani legislation into line with international documents. More attention should be paid to the strengthening of co-peration and co-ordination among state authorities, ministries and financial institutions working in this area in order to most effectively fight against money laundering and the financing of terrorism," he said.

Dolgor Solongo, representing the ODC's Global Programme Against Money Laundering, said co-ordinated national and international action was necessary. "Neither the proceeds of crime nor criminals stay in one country," she said. "They cross borders moving quickly around the world, and we need co-operation not only within a national but also an international framework to prevent the problem."

Participants agreed it was very important to make sure that international organizations render assistance to the government of the Republic of Azerbaijan, primarily in the development of comprehensive national legislation, including the establishment of a national Financial Investigation Unit (FIU).

A set of recommendations to assist with the development of corresponding legislation and administrative structures in Azerbaijan was also prepared.

"We are very pleased to see concrete and positive conclusions of this workshop," said Robin Seaword, Deputy Head of the OSCE Office in Baku, adding that the OSCE stands ready to provide whatever assistance and support it can to ensure that Azerbaijan is able to join the ranks of those committed to countering money laundering and financing of terrorism.