Dear readers,
Since 8 October 2024, the Order of the Chairman of the Agency of the Republic of Kazakhstan for Financial Monitoring dated 24 September 2024 No.4 "On Amendments to the Order of the Chairman of the Agency of the Republic of Kazakhstan for Financial Monitoring dated 22 February 2022 No.13 "On Approval of the Rules for submission by subjects of financial monitoring of information and information on transactions subject to financial monitoring, and signs of identification of a suspicious transaction" has been entered into effect.1
According to the amendments, changes to the list of subjects of financial monitoring, as well as to the signs of suspicious transactions subject to financial monitoring in terms of digital assets have been made.
The amendments can be illustrated as follows:
Previous edition |
New edition |
Types of financial monitoring subjects |
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Persons engaged in activities related to the issuance of digital assets, the organization of trading in them, as well as the provision of services for the exchange of digital assets for money, valuables and other property. |
Persons engaged in the issuance and circulation of secured digital assets. |
Signs of identifying suspicious transactions |
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Transactions for making a large initial deposit when establishing new relationships with persons engaged in the issuance of digital assets, organizing trading in them, as well as providing services for the exchange of digital assets for money, valuables and other property (VASP), the amount of which does not correspond to the client's profile and/or the withdrawal of assets without additional operations, or shortly after their appearance on the account. |
Transactions for making a large initial deposit when establishing new relationships with persons engaged in the issuance and circulation of secured digital assets, as well as providing services for the exchange of digital assets for money, valuables and other property (VASP), the amount of which does not correspond to the client's profile and/or the withdrawal of assets without additional transactions, or shortly after their appearances on the account. |
Opening several accounts under different names in order to circumvent restrictions imposed by persons engaged in the issuance of digital assets, organizing trading in them, as well as providing services for the exchange of digital assets for money, valuables and other property (VASP) for trading and withdrawing funds, including from unreliable IP addresses in countries or territories under sanctions or suspicious IP addresses. |
Opening several accounts under different names in order to circumvent restrictions imposed by persons issuing and circulating secured digital assets, as well as providing services for exchanging digital assets for money, valuables and other property (VASP) for trading and withdrawing funds, including from unreliable IP addresses in countries or territories located in under sanctions or suspicious IP addresses. |
1 Order of the Chairman of the Agency of the Republic of Kazakhstan for Financial Monitoring dated 24 September 2024 No.4 "On Amendments to the Order of the Chairman of the Agency of the Republic of Kazakhstan for Financial Monitoring dated 22 February 2022 No.13 "On Approval of the Rules for submission by subjects of financial monitoring of information and information on transactions subject to financial monitoring, and signs of identification of a suspicious transaction"