16:12 - 31.07.2025

---

July 31, Fineko/abc.az. The Central Bank of Azerbaijan has decided to apply corrective measures against Mpay CJSC and PulPal LLC, ABC.AZ informs, referring to the regulatory authority.

In connection with violations of the requirements of relevant legislation and regulations revealed during the planned audit conducted by the CBA in Mpay CJSC, mandatory instructions on combating property legalization were given in accordance with Articles 48.2.4 of the Law on the Central Bank and 63.1 of the Law on Payment Services & Payment Systems. The instructions related to criminally obtained funds and the financing of terrorism, as well as to elimination of deficiencies in the organization of work with cash and strengthening of internal control systems.

In connection with the identification of violations of the requirements of legislation and regulations related to PulPal LLC, as part of CA’s ongoing supervisory activities, violations of the requirements of relevant legislation and regulations were identified in relation to PulPal LLC, in accordance with Articles 48.2.4 of the Law on the Central Bank and 63.1 of the Law on Payment Services & Payment Systems, in order to improve internal control functions and build a risk management system, mandatory instructions were given to strengthen human resources.