AFSA and Financial Monitoring Agency of RK develop joint measures to protect the financial sector from Money-Laundering/Terrorist-Financing risks
The Financial Monitoring Agency together with the Astana Financial Services Authority (AFSA) have held a Compliance Council meeting focused on strengthening the national anti-money laundering system.
The meeting focused on contemporary approaches to risk management in the context of emerging financial technologies and digital assets, along with measures to further strengthen the supporting infrastructure within the AIFC. Particular emphasis was placed on implementing priority actions to enhance Kazakhstan’s rating under FATF Recommendation 15.
The importance of enhancing internal monitoring mechanisms was emphasised, including improving the quality of customer due diligence procedures and the identification of beneficial owners.
As a result of the discussions, a decision was made to strengthen cooperation between the Agency and AFSA to enhance the resilience of the national financial system and reduce the risk of financial platforms being used for illicit purposes.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.
Over 4,300 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/
Contact information:
Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]