Anti-Money Laundering Services
Over the past decade, a number of countries (including Kazakhstan) have passed laws obliging banks and other corporations to implement anti-money laundering programs.
The list of entities obliged to control suspicious transactions is gradually being extended by the Government. In today’s Kazakhstan, this type of control is exercised by credit institutions, professional participants in the securities market, insurance and leasing companies, pawnshops, entities involved in organising lotteries and other gambling, including electronic gambling, organisations administering investment funds or non-governmental pension funds, companies rendering intermediary services in real estate sale-and-purchase transactions, and other organisations.
Mandatory measures include establishment of customer identity, maintenance of customer-related documentation, and informing authorised law enforcement bodies on suspicious operations which may be connected to money laundering. Non-compliance with these requirements can be punished by large penalties and damages for goodwill.
Acting in line with the relevant laws and regulations, we offer our customers a comprehensive approach to solving problems related to money laundering.
We have vast experience of forensic investigations and in-depth knowledge of the industries suffering most from money laundering. All this allows us to effectively help minimise risks and prevent unfavorable consequences for our clients.
Based on the principle that prevention is better than cure, we offer a wide variety of services aimed at creating favorable conditions for defeating money laundering practices.
Services provided as part of this line include:
- Analysis and assessment of existing procedures for background checks of customers and counterparties ("know your customer"); systems of internal control aimed at preventing money laundering practices; compliance of anti-money-laundering policies with the requirements of the Kazakhstan and international legislation
- Assistance in developing anti-money laundering procedures using the most efficient methods
- Assessment of exposure to money laundering risk resulting from individual operations and company activities as a whole
- Assistance in cases of money laundering and minimisation of the consequences
- Assistance in creating a counter-money-laundering department; provision of employee training on developing relevant procedures and assistance in implementing them
Support in acquisition transactions subject to anti-money laundering controls, provided by assessing the potential money laundering risks
Contacts
Manuel Hutama
Head of Consulting & ERS
Tel.: +7 (727) 258 13 40
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