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Central Bank Of Azerbaijan Fines Modenis LLC For Grave Violations
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 8. The Central Bank of
Azerbaijan (CBA) has fined Modenis LLC and its official, Trend reports via the
CBA.
Following an on-site inspection carried out by the CBA between June 4 and July 18, 2025, several violations of legislation related to the prevention of money laundering and the financing of terrorism were identified.
As a result of these violations, Modenis LLC, as a legal entity, was fined 50,000 manat (approximately $29,400) under Articles 598.1.1 and 598.1.2 of the Code of Administrative Offenses.
Furthermore, an official of the company was individually penalized with an administrative fine of 10,000 manat (approximately $5,900), also in accordance with the aforementioned legal provisions.
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