Kazakhstan

Last Updated: 19/02/2007 (Anti-money laundering legislation not applicable to lawyers)

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Kazakhstan has no comprehensive suite of legislation addressing money laundering, but does have some provisions relating to proceeds of crime.

The first anti-money laundering law in Kazakhstan was contained Article30 of the “Law Against Drug Trafficking” and was enacted in 1998. An associated Act, titled “On Measures to Combat Terrorism”, introduced the concept of "terrorist financing". It also set out citizens' obligations with regard to terrorism and prohibited the advocacy of terrorism in any form. 1

"The Decree of the President of 22 January 2001 empowered a former Tax Committee (replaced by the Financial Police Agency) to investigate money laundering and other economic offences. However, there is currently no central authority for reporting. Kazakhstan has recently drafted legislation that would create a Financial Intelligence Unit that would have broad powers to collect and analyse data and to act on suspicious transactions involving money or other assets. This draft law is currently under discussion in the Majilis (lower house of Parliament)." (2)

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Sources

1. OSCE Press Release, “Almaty roundtable to discuss Kazakhstani legal concept on combating money laundering and financing of terrorism,” 9 Nov 2005, www.osce.org.
2. Marcus Simpson, “Kazakhstan drafts money laundering and terrorist financing bill,” 15 Nov 2005, www.complinet.com.