CBA: Millions of manats flow abroad through illegal gambling schemes

Large sums of money are being transferred out of Azerbaijan through illegal gambling activities, Chairman of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference.

Report quotes him as saying gambling activities in Azerbaijan are permitted only through licensed operators.

"Extremely large amounts are being transferred abroad. Some individuals open card accounts and offer others to transfer money there to participate in foreign gambling activities. The volume of such payments reaches millions of manats. We must prevent this. The financial sector must not act as an intermediary in the movement of such illegal funds and must inform the Financial Monitoring Service," Kazimov said.