“The Law On Counteraction of Legitimization (Laundering) of Incomes Received by Illegal Means, and Financing of Terrorism”
In order to reduce the level of such criminal activities as money laundering, terrorist financing, weapons proliferation, the world community and all countries are developing and introducing special laws.
These laws are designed to help stop the flow of money that is used and accepted to pay for illegal goods and services. Since banks are the main intermediary for the transfer of money, such laws are one of the main regulations that we follow in our activities.
In Kazakhstan we follow the “The Law on counteraction of legitimization (laundering) of incomes received by illegal means, and financing of terrorism”.
What we do
Check customers before providing them any services
With the help of databases and special programs, we check everyone who applies for opening an account or card in our bank. If the system finds the client suspicious, we perform a manual check. It is crucial for us to know the client, his/her history, as well as the purpose of opening an account.
Check all customer transactions
With the help of databases, we check recipients, senders, payment destinations, amounts, directions, participants in transactions of each operation. If we receive alerts from the system, we perform a manual check. This way it can be ensured that we will recognize an unusual or suspicious operation, if such case occurs.
The Law On Counteraction of Legitimization (Laundering) of Incomes Received by Illegal Means, and Financing of Terrorism