"In a new global environment, it's become easier to do bank fraud, various different financial frauds, and cover them up,” Chairman of the Chamber of Auditors Vahid Novruzov told APA-Economics.
According to him, it has become easier to legalize funds generated through crime and to finance terrorism.
"As a result, the fight against those who organized and committed crimes has become extremely difficult."
The chairman said that the need to strengthen the fight against these crimes remains a priority in financial markets, including banks and insurance companies, noting that the legalization of money or other property acquired through crime and financing of terrorism seriously undermine the national and economic security of each country.
"It is said that some independent auditor organizations and auditors are making serious mistakes in this area, which ultimately leads to a decrease in public confidence in the audit," he said.