Experts discussed the role of anti-money laundering in the accelerated growth of the financial industry at Astana Finance Days 2022
Experts discussed the role of anti-money laundering in the accelerated growth of the financial industry at Astana Finance Days 2022
28 June 2022 00:00:00

The session “Anti-Money Laundering: Challenges and Benefits for the Accelerated Growth of the Financial Industry” has taken place as part of Astana Finance Days 2022. The panel session was organised by the AIFC Financial Services Authority (AFSA). International and Kazakhstan experts reviewed global trends in the field of combating money laundering, discussed the specifics of compliance with the rules for controlling transfers in cryptocurrency, considered combatting anonymity mechanisms, and ensuring transparency of financial transactions to accelerate the growth of the financial sector and other issues.

The speakers of the session included AFSA Deputy CEO and Chief Regulatory Officer Gareth Ling, Executive Secretary of the Eurasian group on combating money laundering and financing of terrorism (EAG) Sergey Teterukov, XReg Consulting Partner Ernest Lima, Senior APAC Policy Advisor at Elliptic Tung Li, and Risk Strategy Specialist for the Customer Risk Intelligence group of Refinitiv Renata Galvao.

As a destination for international business, the AIFC strictly adheres to the standards of the FATF (Financial Action Task Force on Money Laundering), and the AIFC's effective regulatory system allows it to combat these risks through international financial services regulation standards.

“The beneficial ownership transparency movement is currently in the spotlight around the world, while the AIFC has integrated ultimate beneficial owner disclosure rules from the outset to prevent illicit financial flows from flowing through the AIFC,” said AFSA Deputy CEO Gareth Ling. - The ability to conduct business transparently and without reputational risks is key for international companies. The AIFC is a place where companies can apply high standards of conduct with confidence”.

This year, the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (EAG) will conduct a second round of mutual assessment of the technical compliance of the legislation of the Republic of Kazakhstan with international standards for combating money laundering and the financing of terrorism (AML / CFT).



The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 1,400 firms from 64 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. 

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.


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