An official of "CPM-İnvest" company has been fined 10,000 manats.
Valyuta.az reports that as a result of a thematic inspection conducted by the Central Bank of the Republic of Azerbaijan, an official of "CPM-İnvest Investment Company" CJSC has been brought to administrative responsibility.
During the investigation, it was determined that the requirements of the legislation in the field of combating the legalization of criminally obtained funds and the financing of terrorism were violated. Specifically, the company failed to fulfill its obligations regarding the monitoring of suspicious transactions and reporting them to relevant authorities, and also made shortcomings in its internal control and risk management system.
Consequently, in accordance with Articles 598.1.1 and 598.1.2 of the Code of Administrative Offenses, the official was fined 10,000 manats by the decision of the Nasimi District Court of Baku city.