Azerbaijan, Türkiye assess ML/TF risks in banking sector

Azerbaijan and Türkiye have engaged in extensive discussions and experience exchange on risk assessment in the field of ML/TF in the banking and insurance sector, the Central Bank of Azerbaijan wrote on X, Report informs.

"The Central Bank delegation paid a working visit to the Banking Regulation and Supervision Agency and the Insurance and Private Pension Regulation and Supervision Agency of the Republic of Türkiye.

During the visit, extensive discussions and experience exchange were held on risk assessment in the field of ML/TF in the banking and insurance sector, methodology for implementing control measures, including on-site and off-site inspections, risk-based control approach, and application of sanctions in this direction," reads the post.