In a major policy overhaul, Kazakhstan’s government has greenlit a comprehensive resolution to tighten its defenses against money laundering, terrorist financing, and even the proliferation of weapons of mass destruction. Set to come into force on November 20, the measures mark one of the most ambitious financial-security reforms in recent years.
Key Measures Introduced
- Defeating the “Mop-Up” System
At the heart of the plan is a campaign targeting so-called “mop-up” operatives — front men used to hide illicit money flows. To combat this, the Financial Monitoring Agency (FMA) will issue detailed typologies and red-flag indicators for banks, helping them spot suspicious transaction patterns more effectively. - Public Awareness Campaign: “Don’t Become a Mop!”
This isn’t just a regulatory push — it’s also public education. The government, together with financial institutions, is launching a nationwide campaign called “Don’t Become a Mop!” to raise awareness about how everyday people can be used in money laundering schemes. - Stricter Scrutiny on Cross-Border Deals
Foreign trade transactions will come under greater surveillance, particularly deals involving fake contracts or full prepayments with no real goods exchanged. Banks will be guided to assess whether such payments actually make economic sense, preventing shell operations from going unchecked. - Monitoring Cash Withdrawals and Fictitious Loans
Cash withdrawals will be tracked using new methodologies developed by the FMA, allowing continuous oversight of funds suspected to originate from criminal activities. Banking institutions will be obligated to flag dubious transactions. The resolution also includes criteria for spotting “fictitious loans,” analyzing repayment schedules, sources of funding, and the amounts involved. - Tackling Illegal Crypto Activity
Recognizing the growing threat of unlicensed digital asset platforms, Kazakhstan will block unauthorized crypto exchanges and maintain a registry of “high-risk” crypto wallets. Data from criminal investigations involving digital assets will be systematized, and public campaigns will warn citizens about potential abuses. - Targeting Real Estate and Luxury Goods Laundering
In sectors known for enabling money laundering — like real estate and luxury goods — banks, notaries, and real estate agents will be empowered with new guidelines to verify both property ownership and the legitimacy of funds used to make big-ticket purchases, such as upscale homes, precious metals, or designer items. - Corporate Transparency and Risk Profiling
A new risk-profiling system will assess legal entities — including trusts and foreign structures — to detect potential money laundering risks. By increasing transparency, the government aims to reduce the misuse of complex corporate vehicles for illicit finance. - Regulating High-Risk Sectors
The reforms extend to gambling and other industries vulnerable to criminal exploitation. Technical systems will be deployed to boost transparency and help prevent these sectors from becoming laundering channels. - Preventing WMD Financing
In a bold step, the plan includes a dedicated strategy to curb funding for weapons of mass destruction. This will involve specialized training programs across relevant agencies, ensuring prevention isn’t just reactive but proactive.
Accountability and Reporting
- Government bodies and their subordinate agencies are required to report on progress twice a year to the FMA.
- The FMA will consolidate this information and submit a comprehensive report to the government by the 20th day following each reporting period.
