On April 1, 2025, the amendment to the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 12, 2019, No. 188 “On Approval of the Rules of Formation of Risk Management and Internal Control System for the second-tier banks, branches of non-resident banks of the Republic of Kazakhstan” came into force.
In accordance with the amendments, starting from April 1, 2025, banks shall have an automated information system and procedure, which, including their main tasks, will additionally allow to ensure detection of operations having characteristics corresponding to typologies, schemes and methods of legalization (laundering) of criminal proceeds and terrorism financing approved by the state body carrying out financial monitoring, related to:
1) illegal production, trafficking and (or) transit of drugs;
2) making payments and money transfers in favor of digital asset exchanges that are not members of the International Financial Center “Astana”, the list of which is formed by the authorized body;
3) payments and (or) money transfers in favor of electronic casinos and Internet casinos.
Thus, new options have been added to the automated financial monitoring system to identify transactions with illegal income and timely transfer information to the authorized body.
Article is prepared by Sergey Gaidarov,
Lawyer of FChain Kazakhstan
07th of April 2025
