JOINT ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN AND RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 4, 2016 No. 532, on October 28, 2016 No. 262

About approval of Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for payment institutes

According to Item 3-2 of article 11 of the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" the Minister of Finance of the Republic of Kazakhstan ORDERS and the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for payment institutes.

2. To committee on financial monitoring of the Ministry of Finance of the Republic of Kazakhstan (Mekebekov A. Z.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) state registration of the presents of the order and resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days after state registration of the presents of the order and the resolution in the Ministry of Justice of the Republic of Kazakhstan their direction on official publication in periodic printing editions and information system of law of Ad_let;

3) within ten calendar days from the date of state registration of the presents of the order and the resolution in the Ministry of Justice of the Republic of Kazakhstan their direction in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan" for placement in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

4) placement of the presents of the order and resolution on official Internet resource of the Ministry of Finance of the Republic of Kazakhstan.

3. These order and the resolution become effective after ten calendar days after day of their first official publication.

No. 532, No. 262 are approved on October 28, 2016 by the Order of the Minister of Finance of the Republic of Kazakhstan and the Resolution of Board of National Bank of the Republic of Kazakhstan of October 4, 2016

Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for payment institutes

Chapter 1. General provisions

1. These Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for payment institutes (further – Requirements) are developed according to the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of the income received in the criminal way and to terrorism financing" (further – the Law on PODFT) and extend to payment institutes (further – the organizations).

2. The concepts applied in Requirements are used in the values specified in the Law on PODFT.

For the purposes of Requirements the following concepts are used:

1) one-time transaction (transaction) – the relations on provision of services (products) by the organization:

implementation by the client of cash payments money without opening of the bank account;

implementation by the client of cashless payment and (or) money transfer without use of the bank account;

introduction of money for the bank account by means of the equipment (device) intended for acceptance of cash;

implementation by not identified owners of electronic money – physical persons of transactions on acquisition and use of electronic money;

2) unusual transaction (transaction) – transaction (transaction) which is subject to obligatory studying according to item 4 of article 4 of the Law on PODFT taking into account Signs of determination suspicious the transactions approved by the authorized state body performing financial monitoring and taking other measures for counteraction of legalization (washing) of income gained in the criminal way, and financing of terrorism according to Item 2 of article 10 of the Law on PODFT (further – authorized body on financial monitoring) and developed by the organization independently;

3) risks of legalization (washing) of income gained in the criminal way and terrorism financings – risks of deliberate or inadvertent involvement of the organization in processes of legalization (washing) of income gained in the criminal way and financings of terrorism or other criminal activities;

4) risk management of legalization (washing) of income gained in the criminal way and terrorism financings – set of the measures for monitoring, identification of risks of legalization (washing) of income gained in the criminal way taken by the organizations and terrorism financings, and also their minimization (concerning services, clients);

5) threshold transaction – the transaction with money and (or) other property which is subject to financial monitoring according to article 4 of the Law on PODFT and equal or exceeding the threshold amount established by the Law on PODFT.

3. Internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing (further PODFT) is performed by the organization for the purpose of:

1) ensuring accomplishment by the organization of requirements of the Law on PODFT;

2) maintenance of system effectiveness of internal control at the level sufficient for risk management of legalization (washing) of income gained in the criminal way and financings of terrorism and the integrated risks;

3) exceptions of involvement of the organization and workers in processes of legalization (washing) of income gained in the criminal way and terrorism financings.

4. Within the organization of internal control for the purpose of PODFT in the organization the rules of internal control including requirements to carrying out internal audit of the organization by service or other body authorized on carrying out internal audit, efficiency evaluation of internal control for the purpose of PODFT are developed.

Rules of internal control include programs, the stipulated in Article 11 Laws on PODFT which are developed by the organization independently according to Requirements and are the internal document of the organization or set of such documents.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info