Azerbaijan is strengthening mechanisms to combat terrorist financing and clarifying the liability of legal entities in this area.
Operative Information Center-OMM reports that the measures are reflected in proposed amendments to the Criminal and Criminal Procedure Codes.
The draft amendments were discussed at today’s meeting of the Milli Majlis (National Assembly) Committee on Legal Policy and State Building.
The document states that criminal-law measures will be applied to a legal entity if its officials commit the crime of terrorist financing in connection with their official duties as a result of the legal entity’s failure to organize oversight of financial operations in accordance with procedures established by law. This will apply regardless of whether the crime was committed for the benefit of the legal entity or to protect its interests.
The draft notes that terrorist financing differs significantly from other economically motivated crimes because its primary purpose is not to obtain financial or other economic benefits, but to direct funds toward financing a terrorist act, a terrorist organization or the activities of a terrorist.
The proposed changes are intended to strengthen preventive controls and clarify how legal entities may be held accountable when failures in financial oversight contribute to terrorist financing. The amendments remain subject to consideration through the legislative process.
