Article 7. Proper verification by financial monitoring entities of clients when conducting transactions with money and (or) Other property 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. Financial monitoring entities, prior to conducting transactions with money and (or) other property, shall take the measures specified in the sub-paragraphs 1), 2), 2-1), 2-2), 4) and 6) paragraph 3 of Article 5 of this Law, except for the cases provided for in paragraphs 3-1 and 3-2 of Article 5 of this Law, and when such measures are taken when establishing a business relationship.

      2. When making non-cash payments and money transfers in favor of a foreign financial institution on the instructions of clients, with the exception of payments and money transfers using payment cards, as well as the cases provided for in paragraphs two, three and six of subparagraph 1) of paragraph 3-1 of Article 5 of this Law, banks and organizations engaged in certain types of banking operations, including intermediary banks, as well as postal operators providing money transfer services, ensure that the payment document contains the details and transfers them to the participant of the payment (transfer)., provided for by the legislation of the Republic of Kazakhstan, including:

     last name, first name, patronymic (if any) or full or abbreviated names (for legal entities, foreign entities without forming a legal entity) of the sender and recipient of money (beneficiary);

     individual identification codes of the sender and recipient of the money (beneficiary), if the money transfer was carried out using a bank account, or the number of instructions for payment or money transfer, if the money transfer was carried out without using a bank account.;

     the identification number or address of the sender of the money (for individuals and legal entities, foreign entities without forming a legal entity) or the number of the identity document of the sender of the money (for an individual).

     Second-tier banks and organizations engaged in certain types of banking operations, including intermediary banks, as well as postal operators providing money transfer services, monitor the availability of the information specified in part one of this paragraph in the payment document upon receipt of a payment and money transfer from a foreign financial institution, as well as record and store information required to identify the recipient of a money transfer without using a bank account.

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  

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