Financial Crime World

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Financial Crime Definition in Kyrgyzstan: A Look into the State Financial Intelligence Service

The State Financial Intelligence Service (SFIS) under the Cabinet of Ministers of the Kyrgyz Republic is responsible for combating financial crime and ensuring the integrity of the country’s financial system. As the designated Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) government authority, SFIS plays a crucial role in detecting and preventing illegal activities.

Guiding Principles

According to the Constitution of the Kyrgyz Republic and various laws, decrees, and regulations, SFIS activities are guided by universally recognized rules and principles of international law, as well as international treaties and agreements signed by the country. The agency’s emblem and flag proudly represent its mission to protect the nation’s financial interests.

The legal framework governing SFIS’ operations includes several key pieces of legislation, including:

  • Law No. 87 on Combating the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds
  • Resolutions Nos. 606 and 143

These laws and regulations outline the agency’s objectives, powers, and responsibilities in preventing financial crime.

Leadership

At the helm of SFIS is Chairman Kanatbek Turgunbekov, appointed by the President of the Kyrgyz Republic. The organization is structured around a team of dedicated professionals, including:

  • State Secretary Chyngyz Kenenbaev
  • Deputy Chairman Akyn Mambetaliev

Objectives and Activities

The agency’s primary goal is to reduce the scope of terrorist financing and money laundering. To achieve this, SFIS collects suspicious transaction reports and conducts operational and strategic analyses to identify patterns and trends related to financial crime. The agency also:

  • Prepares summarized reports
  • Disseminates information to relevant government authorities
  • Applies targeted sanctions
  • Pursues international cooperation

Contact Information

For those seeking more information or wishing to report suspicious transactions, SFIS offers a range of contact options, including:

  • Phone numbers: [insert phone numbers]
  • Email addresses: [insert email addresses]
  • Official website: [insert URL]

Visitors can reach the agency at 21-A, Togolok-Moldo Street (crosses Frunze Street), Bishkek, 720033.

Conclusion

In conclusion, SFIS is a vital component of Kyrgyzstan’s financial system, working tirelessly to prevent and combat financial crime. By understanding its role, objectives, and activities, the public can better appreciate the agency’s efforts to protect the nation’s financial integrity.