The State Security Service and the Ministry of Economy are endowed with new powers, a tough fight against the “shadow economy” begins

Receiving of funds from abroad in a form hidden from state control is largely organized through illegal money transfers. Under the conditions of the existence of the shadow economy, sending money to such persons for foreign special services is greatly simplified, APA reports. Persons involved in corruption crimes have withdrawn large sums of funds obtained by criminal means from the country through illegal money transfers.

The Law on Amendments to the Criminal Code of the Republic of Azerbaijan, which entered into force on December 6, 2022, added Article 206-1 to the Code, providing for criminal liability “for illegal money transfers”, the Decree of the President of the Republic of Azerbaijan provides that the investigation of criminal cases on such criminal actions will be carried out by the Ministry of Economy and the State Security Service of the Republic of Azerbaijan.

Thus, special reforms will be carried out in Azerbaijan, tough measures will be taken to fight in this direction, including against all harmful manifestations of the “shadow economy” in general.

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