Financial Crime World

Compliance Training for Financial Institutions in Kazakhstan Focuses on Anti-Corruption Measures

Promoting Transparency and Combating Economic Crime

In a bid to promote transparency and combat economic crime, the Action on “Promoting Transparency and Action against Economic Crime” in Central Asia recently organized a four-day training of trainers in cooperation with the Chamber of Commerce of the Republic of Kazakhstan.

Event Overview

  • Held from December 5-8, 2023
  • Equipped trainers from the private sector with knowledge on corporate anti-corruption compliance
  • Aimed at promoting transparency and combating economic crime in the financial sector

Participants

A total of 25 representatives from various sectors participated in the training:

  • Business associations
  • Joint-stock companies
  • Small and medium-sized enterprises (SMEs)
  • General Prosecutors Office
  • Anticorruption Agency
  • Astana International Finance Centre
  • Financial Monitoring Agency (Kazakh FIU)

Training Topics

The training covered tools for preventing corporate corruption and promoting good corporate governance, including:

  • Ethics and codes of conduct
  • Policies for whistle-blower protection
  • Conflict of interest management
  • Beneficial owner disclosure
  • Good procurement practices
  • Stakeholder cooperation with civil society and the public sector

Key Takeaways

Attendees received coaching on how to educate others in anti-corruption compliance, allowing them to transfer their knowledge effectively. Following the training, participants will be able to introduce and disseminate anti-corruption compliance knowledge within their own companies and among colleagues, ensuring the sustainability of the project’s activities.

Part of a Larger Initiative

The event is part of the Central Asia Rule of Law Programme 2020-2024, a joint initiative co-funded by the European Union and the Council of Europe. The programme aims to strengthen capacities to fight and prevent economic crime in five Central Asian countries: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

Building on Regional Workshop

The training builds on the key findings of the regional workshop on Enhancing business integrity and compliance of the private sector in Central Asia held in Strasbourg in July 2023. With this initiative, Kazakhstan is taking a crucial step towards promoting transparency and combating economic crime in the financial sector.