ASTANA – Kazakhstan and the United Arab Emirates (UAE) are strengthening cooperation in combating money laundering and terrorist financing. On October 28, the Financial Supervisory Authority hosted a meeting with a delegation from the UAE National Anti-Money Laundering, Combating Terrorist Financing and Combating the Financing of Illegal Organizations Committee, headed by Secretary-General Hamid Al Zaabi. .
Members of the Financial Supervisory Authority met with a delegation from the UAE National Committee for Combating Money Laundering, Combating the Financing of Terrorism and Combating the Financing of Illicit Organizations. Photo courtesy of the Financial Supervisory Agency.
During the meeting, the officials discussed prospects for cooperation in the fight against money laundering. They exchanged views on the digitization of national risk assessment processes and ways to identify illegal use of virtual assets. According to the agency’s press service, participants discussed topics such as drug trafficking, professional money laundering and the return of illegally withdrawn assets.
Officials from the UAE and Kazakhstan have agreed to help improve the professional level of Kazakhstan’s anti-money laundering system participants in the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Last June, Kazakhstan passed a mutual review to comply with FATF (Financial Action Task Force) international standards for combating money laundering, terrorist financing and proliferation financing. Kazakhstan has demonstrated an effective system for combating money laundering and terrorist financing. This will allow domestic companies to simplify and manage cross-border financial transactions.
Since the beginning of this year, authorities have completed investigations into 57 criminal cases related to the financial pyramid, with total losses amounting to about 20 billion tenge (US$40.7 million) and involving about 21,500 depositors, according to Kazinform. It is said that he did.
