Kazakhstan and UAE Enhance Cooperation in Combating Money Laundering, Terrorist Financing
Kazakhstan and the United Arab Emirates (UAE) are strengthening cooperation in combating money laundering and terrorist financing. On Oct. 28, the Financial Monitoring Agency hosted a meeting with a delegation from the UAE National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee, headed by Secretary-General Hamid Al Zaabi.
Officials from Kazakhstan and the UAE discussed cooperation on anti-money laundering, focusing on digitalizing risk assessment and tackling virtual asset misuse, drug trafficking, and professional money laundering, as reported by the agency’s press service. The two nations agreed to support Kazakhstan’s anti-money laundering specialists through the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Kazakhstan recently passed a mutual assessment under the FATF standards, affirming its system to combat money laundering and terrorism financing, allowing for smoother cross-border financial transactions. Additionally, Kazinform reported that since early this year, investigations have closed 57 financial pyramid cases involving losses of nearly 20 billion tenge (US$40.7 million) and 21,500 depositors.
