The fight against illegal money transfers from/to Azerbaijan will be intensified.

A new draft law on making amendments to the Criminal Code and Code of Administrative Offences was discussed at the first meeting of the Committee on Legal Policy and State Building of the Parliament of the Republic of Azerbaijan, which was held on September 22, 2022.

As per the proposed amendments to the Criminal Code, criminal liability will be imposed on individuals organizing illegal transfer of money in the amount exceeding AZN 50,000.

Moreover, according to the proposed amendments to the Code of Administrative Offenses, administrative liability will be imposed on an individual organizing illegal transfer of money from Azerbaijan to foreign countries or from foreign countries to Azerbaijan in the amount of up to AZN 50,000.