The Financial Action Task Force (FATF) has published the fourth statement of the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) in relation to Azerbaijan. The statement, which is made under Step VI of its compliance enhancing procedures, highlights that Azerbaijan has now created and implemented the legislative base to counter money laundering and terrorist financing. It also notes that Azerbaijan's financial intelligence unit has commenced operations and is receiving and analysing reports. As a result, MONEYVAL will withdraw its previous statements and the advice to financial institutions made in its statement on 12 December 2008, but will continue to monitor progress on a number of other issues.