16 December 2025, Baku: In line with Article 5 of the Law of the Republic of Azerbaijan on Prevention of Legalization of Criminally Obtained Property and the Financing of Terrorism, reporting entities are permitted to rely on customer due diligence measures conducted by other reporting entities (third parties) pursuant to Article 4 of the Law, or information and documents obtained by other reporting entities when onboarding new customer and establishing business relations. The Central Bank of the Republic of Azerbaijan and the Financial Monitoring Service conducted an online training to reinforce compliance with this requirement of the Law for more than 200 employees of banks, NBCIs, investment companies, insurers engaged in endowment life insurance, reinsurers, insurance intermediaries, payment institutions, electronic money institutions, financial leasing providers and pawnshops on 11 December 2025.

The session included detailed discussions on the practical application of legislative requirements, followed by a question-and-answer session to address participants’ inquiries.