Kazakhstan
On August 28, 2009 the President of Kazakhstan signed the Law of the Republic of Kazakhstan on Counteracting Legalization (Laundering) of Ill-gotten Proceeds and Terrorist Financing, which will come into force on March 9, 2010.
In April 2008, the Kazakh Government passed a resolution establishing the Financial Monitoring Committee within the Kazakh Finance Ministry.
Financial Intelligence Unit – the Financial Monitoring Committee.
Overview
With its Decree No.387 (April 24, 2008), the Kazakhstani Government created the Financial Monitoring Committee – a competent authority tasked with combating money laundering and terrorist financing. It operates within the Kazakhstani Ministry of Finance and is an administrative-type financial intelligence unit.
Goals and tasks
The Committee’s primary task is conducting financial monitoring to combat money laundering and terrorist financing. It involves:
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implementing unified government AML/CFT policy
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combating money laundering and terrorist financing and coordinating the efforts of government agencies along in this field
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creating a single information analysis system and maintaining a national AML/CFT database
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interacting and exchanging information with competent authorities of other countries for AML/CFT purposes
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representing the interests of the Republic of Kazakhstan in international organizations
in AML/CFT field
Organization structure
The Financial Monitoring Committee of the Kazakhstani Ministry of Finance is chaired by Musyraly Smailovich Utebayev.
The Committee is structurally composed of 8 departments:
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Information technology department
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Information security and protection department
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Analytical department
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Counter-terrorist financing department
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Department for interaction and coordination of the financial monitoring system operation
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Legal department
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International relations department
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Organizational, financial, and HR department
The Committee has a territorial branch – the Financial Monitoring Department in Almaty.