President Tokayev Expands Powers of Kazakhstan’s Financial Monitoring Agency

Kazakh President Kassym-Jomart Tokayev has signed an order enacting amendments and additions to the regulations of the Financial Monitoring Agency, significantly broadening the agency’s authority and operational scope.

The Financial Monitoring Agency, which reports directly to the president of Kazakhstan, is charged with overseeing financial surveillance, combating money laundering, preventing terrorism financing and the spread of weapons of mass destruction, and tackling economic and financial crimes under its jurisdiction, The Caspian Post reports, citing Kazakh media.

The updated regulations establish clearer procedures for transferring information, data, and documents from information systems to organizations under the agency’s control. They also introduce defined processes, stages, and timelines for conducting unscheduled certifications. Additionally, the amendments set forth standardized methods for carrying out psychological and sociological research within the agency’s remit.

These changes aim to enhance the agency’s effectiveness in safeguarding Kazakhstan’s financial system and national security.