BAKU, Azerbaijan, August 5.​ A new minimum limit has been set for electronic money transfers in Azerbaijan, for which financial institutions are required to submit information to the Financial Monitoring Service. According to information obtained by Trend, the Chairman of the Board of the Financial Monitoring Service, Zaur Fatizade, signed the relevant decision. According to the law "On combating the legalization of property obtained through crime and the financing of terrorism", information and documents on electronic money transfer transactions involving funds equal to or exceeding the amount set by the financial monitoring authority must be submitted by financial institutions to the financial monitoring authority. In addition, obligated entities must ensure submission of information on the beneficial owners of legal entities that were their customers before this decision enters into force to the Financial Monitoring Service by December 31, 2027. The decision signed on April 21 will enter into force on October 1.