Article 4. Transactions with money and (or) other property subject to 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. Transactions involving money and/or other assets are subject to financial monitoring:

     1) if the transaction amount is equal to or exceeds 1,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 1,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions: 

     receiving winnings in cash and/or non-cash forms based on the results of betting, gambling in gambling establishments and lotteries, including in electronic form; 

     acquisition (sale) of cultural property in cash, import into the Republic of Kazakhstan or export of cultural property from the Republic of Kazakhstan;

     1-1) if the transaction amount is equal to or exceeds KZT 3,000,000 and by its nature this operation refers to pawnshops performing transactions with money, securities, precious metals and precious stones, jewelry made from them and other valuables (except for coins of the national currency made from precious metals) in cash or non-cash form;

     2) if the amount of the transaction is equal to, equivalent to, or exceeds 5,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 5,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions:

     transfers of money abroad to accounts (deposits) opened with an anonymous owner, receipt of money from abroad from an account (deposit) opened with an anonymous owner in cash or non-cash form;

     purchase and sale of jewelry in cash or non-cash form;

     crediting or transferring money to a client's bank account, carried out by an individual, a legal entity or a foreign entity without forming a legal entity, having respectively registration, place of residence or location in an offshore zone, as well as owning an account with a bank registered in an offshore zone, or operations of the client with money and (or) other property with the specified a category of persons in cash or non-cash form;

 money transactions performed by the client in favor of or on behalf of a person issuing and circulating secured digital assets and/or an AIFC participant who has an appropriate license to carry out activities related to digital assets; 

     crediting or transferring digital assets performed by the client, for the benefit of the client, on behalf of the client, or between clients; 

     money transactions performed by the client, for the benefit of the client, on behalf of the client, or between clients of a person issuing and circulating secured digital assets, and (or) an AIFC participant holding an appropriate license to carry out activities related to digital assets. 

     The requirements provided for in paragraph seven of this subparagraph apply to persons issuing and circulating secured digital assets and/or AIFC participants who have an appropriate license to carry out activities related to digital assets. 

     When crediting or transferring digital assets, the equivalent amount in tenge is calculated at the market exchange rate of the digital asset on the day of the transaction by converting a digital asset with a fixed value in a foreign currency into the national currency of the Republic of Kazakhstan using the exchange rate determined by the National Bank of the Republic of Kazakhstan on the date of the transaction.;

     3) if the transaction amount is equal to or exceeds 7,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 7,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions:

     payments and money transfers made by the client for the benefit of another person free of charge, in cash or non-cash form;

     transactions with shares and units of mutual investment funds, with the exception of repo operations on the organized market by open trading, in cash or non-cash form;

     4) if the transaction amount is equal to or exceeds 10,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 10,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions:

     purchase, sale and exchange of foreign currency through exchange offices in cash or non-cash form;

     withdrawal of money from a bank account or crediting to a client's bank account, as well as acceptance from the client or disbursement of cash to the client, with the exception of the cases provided for in paragraphs five and six of this subparagraph, in cash;

     transactions performed by legal entities that have been registered for less than three months, in cash or non-cash form;

     making insurance payments or receiving insurance premiums in cash;

     making and transferring voluntary pension contributions to a single accumulative pension fund and (or) a voluntary accumulative pension fund, as well as making pension payments from a single accumulative pension fund and (or) a voluntary accumulative pension fund at the expense of voluntary pension contributions in cash;

     transactions for the provision of services, including contracting, transportation, forwarding, storage, commission, and trust management of property, with the exception of safe deposit transactions for the rental of safe boxes, cabinets, and premises, in cash;

     receiving money by check or promissory note in cash;

     import into the Republic of Kazakhstan or export from the Republic of Kazakhstan of cash currency, bills of exchange, checks, except for import or export carried out by the National Bank of the Republic of Kazakhstan, banks and the National Postal Operator;

     5) if the transaction amount is equal to or exceeds 45,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 45,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions:

     receipt or provision of property under a financial leasing agreement in cash or non-cash form;

     transactions with bonds and government securities, with the exception of repo transactions on the organized market by open trading, in cash or non-cash form;

     6) if the transaction amount is equal to or exceeds 50,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 50,000,000 tenge and is made in cash or non-cash by a client who has received a loan under business financing programs from the National Fund of the Republic of Kazakhstan as part of bond loans from quasi-public sector entities;

     7) if the amount of the transaction in a foreign currency is equal to or exceeds KZT 100,000,000 in equivalent and by its nature this transaction refers to a cross-border payment and transfer of money from a bank account or to a customer's bank account in a non-cash form;

      8) if the amount of the transaction is equal to or exceeds 50,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 50,000,000 tenge, and by its nature this operation refers to a transaction with immovable property, the result of which is the transfer of ownership of such property.  

     If a transaction with money and (or) other property is carried out in a foreign currency, the equivalent amount in tenge is calculated at the market exchange rate on the day of such transaction, determined in accordance with the legislation of the Republic of Kazakhstan.

 9) if the transaction amount is equal to or exceeds 50,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 50,000,000 tenge, and by its nature this transaction belongs to one of the following types of transactions: 

     purchase and sale of movable property, the result of which is the transfer of ownership of such property; 

     purchase and sale of precious metals and precious stones in cash or non-cash form, except for: 

     transactions on sale of refined gold to the National Bank of the Republic of Kazakhstan and purchase of reference samples of precious metals; 

     transactions for the purchase of precious metals from subsurface users extracted under a mining license; 

     transactions related to the sale of precious metals to the National Bank of the Republic of Kazakhstan; 

     10) if the amount of an operation for a transaction with exchange-traded goods sold on a commodity exchange is equal to or exceeds 500,000,000 tenge or is equal to the amount in a foreign currency equivalent to or exceeding 500,000,000 tenge, performed in a non-cash form by the client."; 

      In the second part of paragraph 3, the words "and (or) financing of terrorism" should be replaced by the words "financing of terrorism or financing the proliferation of weapons of mass destruction"; 

      In the first and second parts of paragraph 5, the words "criminal proceeds and financing of terrorism" should be replaced by the words "proceeds from crime, financing of terrorism and financing the proliferation of weapons of mass destruction"

     2. Excluded by the Law of the Republic of Kazakhstan dated 05/13/2020 No. 325-VI (effective six months after the date of its first official publication).  

    3. Suspicious transactions are subject to financial monitoring, regardless of the form of their implementation and the amount for which they were committed or may or could have been committed.

     Transactions are considered suspicious in accordance with the programs for implementing the rules of internal control of the financial monitoring entity or as a result of examining transactions on the grounds specified in paragraph 4 of this article, the financial monitoring entity has reason to believe that the client's transactions are related to the legalization (laundering) of proceeds from crime and (or) the financing of terrorism.

      4. The mandatory grounds for a financial monitoring entity to study transactions performed by a client and record the results of such study in accordance with Article 5 of this Law are:

     1) commission by the client of a complex, unusually large, or transaction with money and (or) other property that has no obvious economic meaning or apparent legitimate purpose.;

     2) the commission by the client of actions aimed at evading due diligence and (or) financial monitoring provided for by this Law;

     3) the client commits an operation with money and (or) other property, for which there are grounds to believe that it is aimed at cashing out money obtained by criminal means;

     4) the commission of a transaction with money and (or) other property, the participant of which is a person registered (residing) in the state (territory), who does not comply and (or) does not sufficiently comply with the recommendations of the Financial Action Task Force on Money Laundering (FATF), as well as using a bank account registered with in such a State (territory).

     The list of States (territories) that do not comply and/or insufficiently comply with the recommendations of the Financial Action Task Force on Money Laundering (FATF) is compiled by the authorized body, taking into account the documents issued by the Financial Action Task Force on Money Laundering (FATF), which is posted on its Internet resource.

     5. Financial monitoring is subject to the client's transactions having characteristics corresponding to typologies, schemes and methods of money laundering and terrorist financing.

     Typologies, schemes and methods of legalizing (laundering) criminal proceeds and financing terrorism are approved by the authorized body and communicated to financial monitoring entities by posting on their Internet resource.

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.

President    

Republic of Kazakhstan     

© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan  

 Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases