Financial Inclusion Anti-Money Laundering Measures in Kyrgyzstan Take Center Stage
In its pursuit to boost financial inclusion and combat money laundering and terrorist financing, the State Financial Intelligence Service (SFIS) under the Cabinet of Ministers of Kyrgyzstan has emerged as a key player.
About SFIS
As the designated anti-money laundering (AML)/combating the financing of terrorism (CFT) government authority, SFIS is responsible for implementing measures to prevent the misuse of the financial system. The agency’s activities are governed by a range of legal instruments, including:
- Constitution of Kyrgyzstan
- Laws
- Decrees
- International treaties
The SFIS is headed by Chairman Kanatbek Turgunbekov, who is appointed and dismissed by the President of Kyrgyzstan.
Objectives and Activities
According to SFIS objectives, its primary goal is to reduce the scope of terrorist financing and money laundering in the country. To achieve this, the agency:
- Collects and analyzes suspicious transaction reports and other information about transactions
- Conducts operational and strategic analysis
- Prepares summarized reports for relevant government authorities
SFIS also applies:
- Targeted financial sanctions
- Transaction suspension measures
- Pursues international AML/CFT cooperation with foreign counterparts
The agency’s activities are guided by legal instruments, including Law No. 87 of the Kyrgyz Republic on Combating the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds.
Contact Information
Contact information for SFIS includes:
- Phone numbers
- Fax numbers
- Email addresses
- Official website
The agency’s address is located at:
21-Α, Togolok-Moldo Street, Bishkek, 720033
Conclusion
In conclusion, the State Financial Intelligence Service under the Cabinet of Ministers of Kyrgyzstan plays a critical role in promoting financial inclusion and combating money laundering and terrorist financing in the country. Its efforts aim to reduce the scope of these activities and promote a more secure and stable financial environment for all stakeholders.