Money laundering and terrorist financing can destabilise communities, economic sectors, or whole national economies. Criminals and terrorist networks may be able to carry out their criminal and potentially destructive activities through undetected financial support structures.
The AFSA as a supervisory authority is committed to maintaining a regime that acts as a significant deterrent to any criminal elements, including money launderers and persons wishing to assist, in any way, acts of terrorism.
Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean.“ United States Treasury Department.
Terrorism financing refers to activities when any person by any means, directly or indirectly, unlawfully and willfully, provides or collects funds with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out an act of terrorism. International Convention for the Suppression of the Financing of Terrorism
The Law of the Republic of Kazakhstan No 191-IV dated 28 August 2009 on counteracting legalisation (laundering) of proceeds obtained through criminal means and financing of terrorism and other existing legal acts of the Republic of Kazakhstan in the field of AML/CFT - https://www.gov.kz/?lang=en
Russian version
Kazakh version
English version_Report Structure Republic of Kazakhstan on national risk assessment of legalization (laundering) of criminal proceeds
English version_National Risk Assessment of the Financing of Terrorism and Proliferation of Weapons of Mass Destruction
Anti-Money Laundering, Counter – Terrorist Financing and Sanctions Rules
The AML Module of the AFSA Rulebook contains all of the AFSA requirements on Anti-Money Laundering, Counter-Terrorist Financing, and relevant sanctions in one module.
The AML module has been designed to provide a single reference point for all persons and entities (collectively called Relevant Persons) who are supervised by the AFSA for Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) and sanctions compliance under the regimes referred to above.
It is important for Relevant Persons to familiarise themselves with the AML Module and assess the extent to which the Rules apply to them, and on a continuing basis.
List of FATF Guidances in relation to the Risk-Based Approach with direct links:
https://kfm.gov.kz/en/to-help-sps/sdvo/
According to the Section 13.7 “Reporting” of the AIFC AML Rules - A Relevant Person must complete the AFSA AML Return Form on an annual basis and submit such form to the AFSA within two (2) months after the end of each year.
Information from the AML Return provides the AFSA with important information on the Relevant Persons’ AML systems. The information also helps us to:
