Strengthening Anti-Money Laundering Efforts in Kazakhstan

The Council of Europe has recently supported Kazakhstan’s supervisory authorities in enhancing their risk-based approach to anti-money laundering (AML) and combating the financing of terrorism (CFT). This initiative is part of the “Promoting Transparency and Action against Economic Crime” action plan in Central Asia.

Workshop Objectives

The three-day workshop, held from March 26-29, aimed to address shortcomings identified in Kazakhstan’s 2023 Mutual Evaluation Report by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). The objectives were:

To deepen participants’ understanding of Financial Action Task Force (FATF) standards and obligations for effective risk-based supervision of designated non-financial businesses and professions (DNFBPs)
To enhance awareness among DNFBPs on international good practices in meeting their AML/CFT obligations
To improve the understanding of money laundering and terrorist financing risks among both supervisory entities and DNFBPs

Workshop Highlights

During the workshop, participants gained a deeper understanding of:

FATF standards and obligations for effective risk-based supervision of DNFBPs
International good practices in meeting AML/CFT obligations
Money laundering and terrorist financing risks

The activity was designed to improve the implementation of mitigation measures, leading to increased AML/CFT effectiveness and reduced economic crime.

Central Asia Rule of Law Programme

This initiative is part of the Central Asia Rule of Law Programme 2020-2024, funded by the European Union and implemented by the Council of Europe. The programme aims to strengthen capacities to fight and prevent economic crime in five Central Asian countries, including:

Kazakhstan
Kyrgyzstan
Tajikistan
Turkmenistan
Uzbekistan