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Central Bank of Azerbaijan warns of cross-border illegal gambling payments

The Central Bank Chairman, Taleh Kazimov, stated that the financial sector should not act as an intermediary for the movement of illegal funds and must report such activity to the Financial Monitoring Service.

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Key Points
The Central Bank of Azerbaijan has warned that millions of manats are being transferred abroad through illegal gambling activity
Chairman Kazimov is calling for tighter financial controls

The Central Bank of Azerbaijan (CBA) has raised concerns over millions of manats being transferred abroad through illegal gambling activity, warning that the country’s financial sector must not facilitate unlawful transactions.

Speaking at a press conference, CBA Chairman Taleh Kazimov said gambling in Azerbaijan is only permitted through licensed operators.

Kazimov stated: “Extremely large sums are being transferred abroad. Some individuals open bank card accounts to take part in gambling activities abroad. The volume of such payments reaches millions of manats. We must prevent this.”

He added that the financial sector should not act as an intermediary for the movement of illegal funds and must report such activity to the Financial Monitoring Service.

A number of countries have introduced monitoring of financial transactions linked to illegal gambling providers and Azerbaijan is moving in a similar direction.

However, even where financial transactions are targeted, often considered one of the most effective enforcement tools, there are clear limitations. Operators tend to adapt quickly, with crypto wallets, third-party payment processors and other anonymised payment methods remaining difficult to monitor.

In March, Azerbaijani authorities shut down an illegal online casino network and detained four individuals. The operation was led by the Main Department for Combating Cybercrime of the Ministry of Internal Affairs.

Investigators said the suspects worked with overseas illegal gambling sites, used social media to attract users and set up virtual cash desks in Azerbaijan. Electronic evidence, bank cards and mobile phones were seized and the suspects were formally arrested.

Good to know

Last year, Azerbaijan’s Parliament approved legislation authorising the development of casino resorts on artificial islands in the Caspian Sea

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