OSCE supports development of guidebook on anti-money laundering and countering financing of terrorism in Kazakhstan

ASTANA, 8 April 2015 – The presentation of a guidebook on anti-money laundering and countering the financing of terrorism (AML/CFT) developed jointly by experts from the OSCE and the Committee of Financial Monitoring of the Finance Ministry took place today in Astana.

Some 60 representatives of the Parliament, National Bank and second-tier banks, Finance and National Economy Ministries and professional associations took part in the event. They discussed the application of a risk-assessment approach to counter money laundering and the financing of terrorism in compliance with international standards.

“This is the first guidebook of its kind in Central Asia developed jointly by international and national experts,” said Ambassador Natalia Zarudna, Head of the OSCE Programme Office in Astana. “We are pleased with the successful implementation of this challenging and complex task as a result of the experts’ concerted action and collective creativity, and hope that it will become instrumental in preventing and countering financial crimes.”

The guidebook was prepared with the support of the OSCE Programme Office in Astana as a follow-up to its multi-year training activities to build the capacity of the banking and non-financial sectors which are subject to regular financial monitoring. It is based on best practices in OSCE participating States taking into consideration the international norms and requirements of the Financial Action Task Force (FATF).

Bisengali Tadjiyakov, Chairman of the Committee of Financial Monitoring said: “When the FATF, through its international standards, establishes new rules for the banking and non-financial sectors, it is particularly important to apply a risk-assessment approach in specific areas when developing business relations and taking steps to monitor customers’ diligence.” He also noted that the guidebook will help train a wide range of professionals to adhere to the new international standards.

The event is part of the OSCE Programme Office in Astana's multi-year activities to assist the host country in preventing and countering transnational organized crime with a specific focus on AML/CFT initiatives.