The Cabinet of Ministers approved the “Rules on stopping their movement during cross-border transportation of foreign exchange assets and national currency”.
Publika.az reports that Prime Minister Ali Asadov signed a new decision in this regard.
According to the decision, the Rules were prepared in accordance with the law “On the fight against the legalization of property obtained through crime and the financing of terrorism” and determine the rules and related indicators for stopping the movement of foreign currency assets and national currency during cross-border transportation, the foreign currency assets of individuals and legal entities and it is applied when bringing the national currency to the customs territory of the country, taking it out of this territory and transiting it.
During cross-border transportation of foreign currency assets and national currency, customs authorities shall provide information and documents on their source and purpose of use in cases of discovery of foreign currency assets and national currency that have not been declared or incorrectly declared within the requirements of the regime of declaration of foreign currency assets and national currency, determined in accordance with the legislation, including the filling of the “Form for submission of information on the source and purpose of use of currency assets and national currency” attached to these Regulations.
Customs authorities determine their source and purpose of use in cases of non-declaration or incorrect declaration of foreign exchange assets and national currency.
In the following cases, the customs authorities draw up a protocol in accordance with Article 99 of the Customs Code on the suspension of the movement of foreign currency assets and national currency for 48 hours, and the head of the customs authority makes a reasoned decision on this.
– in cases of non-declaration or incorrect declaration of foreign exchange assets and national currency as material evidence during the administrative investigation or criminal prosecution;
– when signs of money laundering, terrorist financing and other crimes are detected.
