Article 3. Subjects of financial monitoring of the Law on Countering the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing the Proliferation of Weapons of Mass Destruction

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Article 3. Subjects of financial monitoring of the Law on Countering the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing the Proliferation of Weapons of Mass Destruction

1. For the purposes of this Law, financial monitoring entities include:

1) banks, branches of non–resident banks of the Republic of Kazakhstan, organizations engaged in certain types of banking operations, with the exception of the operator or operational center of the interbank money transfer system, as well as legal entities whose exclusive activity is the collection of banknotes, coins and valuables;

2) exchanges, organizations engaged in clearing transactions in financial instruments, stockbrokers operating on the commodity exchange and making transactions in commodities, as well as commodity exchange clearing centers;;

3) insurance (reinsurance) organizations, insurance brokers, mutual insurance companies, Export Credit Agency of Kazakhstan, branches of insurance (reinsurance) organizations – non–residents of the Republic of Kazakhstan, branches of insurance brokers - non-residents of the Republic of Kazakhstan;

4) the unified accumulative pension fund and voluntary accumulative pension funds;

5) professional participants of the securities market, the central securities depository;

6) notaries who perform notarial acts with money and (or) other property;

7) lawyers, legal consultants and other independent legal experts – in cases when they, on behalf of or on behalf of the client, participate in transactions with money and (or) other property in relation to the following activities:

purchase and sale of real estate;

management of the client's money, securities or other property;

management of bank accounts or securities accounts;

accumulation of funds for the creation, maintenance, operation or management of a company;

creation, purchase and sale, functioning or management of a legal entity;

8) accounting organizations and professional accountants engaged in business activities in the field of accounting, auditing organizations;

9) organizers of gambling and lotteries;

10) mail operators providing money transfer services;

11) organizations engaged in microfinance activities;

12) payment organizations;

13) individual entrepreneurs and legal entities engaged in leasing activities as a lessor without a license;

14) excluded by the Law of the Republic of Kazakhstan dated 03.07.2019 No. 262-VI (effective from 01.01.2020);

15) individual entrepreneurs and legal entities engaged in operations with precious metals and precious stones, jewelry made from them;

16) individual entrepreneurs and legal entities providing intermediary services in the implementation of transactions for the purchase and sale of real estate;

17) excluded by the Law of the Republic of Kazakhstan dated July 26, 2016 No. 12-VI (effective thirty calendar days after the date of its first official publication);

18) Social health insurance fund;

19) participants of the Astana International Financial Center who carry out certain types of activities on the territory of the Astana International Financial Center (hereinafter referred to as the AIFC), determined by the AIFC Committee on Financial Services Regulation in coordination with the authorized body in accordance with the recommendations of the Financial Action Task Force on Money Laundering (FATF).

20) persons who issue and handle secured digital assets.

21) Government for Citizens State Corporation;

22) mobile operators.

2. The state bodies of the Republic of Kazakhstan are not subjects of financial monitoring.

3. The financial monitoring entities specified in subitems 7) (with the exception of lawyers), 13), 15) and 16) of paragraph 1 of this Article are required to send a notification of the commencement or termination of their activities to the authorized body in accordance with the procedure established by the Law of the Republic of Kazakhstan "On Permits and Notifications".

The Law of the Republic of Kazakhstan dated August 28, 2009 No. 191-IV.

This Law defines the legal basis for countering the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction, the legal relations of financial monitoring entities, the authorized body and other state bodies of the Republic of Kazakhstan in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism, as well as the mechanisms for implementing targeted financial sanctions, related to the prevention and prevention of terrorism and the financing of terrorism, and the prevention, prevention and cessation of the proliferation of weapons of mass destruction and their financing.

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Republic of Kazakhstan

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