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Azerbaijan makes amendments to Criminal Code

6 December 2022 16:25 (UTC+04:00)
Azerbaijan makes amendments to Criminal Code

By Trend

Illegal money transfers from the Republic of Azerbaijan abroad or from abroad to the Republic of Azerbaijan by way of compensation and other methods of mutual settlements, without signs of smuggling, in the amount of more than 50,000 manat ($29,410), but not more than 200,000 manat ($117,650), will be punished, Trend reports on December 6.

This was reflected in the law “On amending the Criminal Code of the Republic Azerbaijan” signed by Azerbaijani President Ilham Aliyev.

According to the law, the above act will be punished by a fine of 40 percent of the amount of the transfer, which is the direct object of the offense, or restriction of freedom for up to two years with a fine of 40 percent of the amount of the transfer, which is the direct object of the offense.

The commitment of the same actions by officials with the abuse of their official position or on a large scale, that is, in the amount of more than 200,000 manat ($117,650), but less than 500,000 manat ($294,120), will be punished by a fine of 40 to 60 percent of the transfer amount, which is the direct object of the offense, or imprisonment for a term of two to four years with a fine of 40 percent of the transfer amount, which is the direct object of the offense, or imprisonment for a term of up to three years.

The commitment of the above acts on an especially large scale, that is, in the amount of more than 500,000 manat ($294,120), will be punished by restriction of freedom for a period of three to five years with a fine of 40 to 60 percent of the amount of the transfer, which is the direct object of the offense, or imprisonment for term from three to five years.

According to another amendment, the implementation of illegal money transfers from the Republic of Azerbaijan abroad or from abroad to the Republic of Azerbaijan through compensation and other methods of mutual settlements in the amount of less than 50,000 manat ($29,410) will be punished by a fine of 40 to 60 percent of the amount of the transfer, which is direct object of the offense.

According to the president's decree [on application of the law], the preliminary investigation of these criminal cases will be carried out by the Ministry of Economy represented by the State Tax Service under the Ministry of Economy, where the case was opened, or by the State Security Service of Azerbaijan.

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