Kazakhstan

New Documents

GRECO Publishes Evaluation Report on Kazakhstan

The Council of Europe’s Group of States against Corruption published the first evaluation report on Kazakhstan since the jurisdiction joined in January 2020, highlighting that corruption in the country is a serious concern and touches many different sectors and institutions.

June 15, 2022

EU BOMCA Hosts Anti-Human Trafficking Workshop in Kyrgyzstan

The European Union-funded Border Management Programme in Central Asia hosted a two-day workshop in Kyrgyzstan that focused on cross-border investigative techniques for combatting human trafficking and migrant smuggling.

May 19, 2022

Kazakhstan AIFC Welcomes Amendments to AML Rules

January 4, 2022

EU, Kazakhstan Discuss Progress in Implementation of AML Measures

December 3, 2021

OSCE Supports STR Training Seminar in Kazakhstan

May 14, 2021

News

Weekly Roundup: US Officials Mull AML Rules for Investment Advisers, Cryptocurrency Remains Top US Enforcement Priority, and More

Puerto Rican bank settles OFAC violations, FDIC tags North Carolina-based savings bank, and more, in the weekly roundup.

May 27, 2022

Midweek Roundup: Canada Leans on AML to Curb Trucker Convoy, Credit Suisse Ignored Internal Warnings, and More

Ex-Goldman Sachs banker on trial in New York, German entrepreneur triggered multiple STRs, and more, in the midweek roundup.

February 16, 2022

Midweek Roundup: Treasury Targets Ransomware Payments, Bitcoin ATMs Draw FBI Attention, and More

November 10, 2021

Midweek Roundup: Germany Ordered Independent Review of FIU’s Shortcomings, Pandora Papers Fallout Commences, and More

October 6, 2021

Kleptocrats of the World Have United: Author

October 5, 2020

Enforcement Actions

0 Items Found

Key Documents

Kazakhstan Enacts Law Against Money Laundering, Terrorist Financing

August 28, 2009

Kazakhstan Makes Legislative Changes to Implement AML/CTF Measures

August 28, 2009

Kazakhstani Regulators Approve Client Identification Requirements Under AML/CTF Law

February 15, 2010

Kazakhstan Implements Uniform AML/CTF Internal Control Rules

February 15, 2010

Ministry of Kazakhstan Issues Rules on Suspension of Suspicious Transactions

February 16, 2010

Important Facts

The U.S. State Department labels Kazakhstan as a major money laundering country. Governmental corruption, drug trafficking, the presence of organized criminal groups, and a large shadow economy make the country vulnerable to money laundering. The jurisdiction is also a transit country for opiates and cannabis on the way to Europe, and is particularly susceptible to trade-based money laundering. The primary sources of laundered proceeds are graft by public officials and fraudulent financial activity, including transactions using shell companies to launder funds returned in the form of foreign investments. In addition, the smuggling of contraband goods and fraudulent invoicing of imports and exports by businesses remain common practices. The use of virtual currencies, online credit card fraud, and online casinos make it difficult to investigate and prosecute money laundering in Kazakhstan because their use often originates beyond the nation’s borders. In 2019, Kazakhstan completed its national risk assessment to evaluate the exposure of its financial sector to money laundering and terrorist financing. In 2020, the country adopted terrorist financing-related amendments to its anti-money laundering and counterterrorist financing law in order to bring the country in compliance with international standards. Kazakhstan prosecuted 20 cases following a record number of suspicious transaction reports; however, there were no convictions for money laundering.

Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical	Effectiveness
Compliant : 16	High :
Largely Compliant : 18	Substantial :
Partially Compliant : 12	Moderate :
Non-Compliant : 1	Low :
Not-Applicable : 2

BASEL i

Rank : 73/141

Score : 5.08/10

TRANSPARENCY INTERNATIONAL i

Rank : 94/179

Score : 38/100

Tax Justice Network i

Rank : 108/133

Score : 64/100