Central Bank of Azerbaijan fines Modenis LLC for grave violations

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.