Counteraction of Legitimization of Proceeds of Crime
Notification of the Financial Monitoring Agency of the Republic of Kazakhstan for jewelers, accounting institutions, realtors and lawyers
Within the framework of state control the Financial Monitoring Agency of the Republic of Kazakhstan (hereinafter referred to as FMA) conducts verification activities to comply with legislation in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism in relation to the subjects of financial monitoring
In accordance with the Law of the Republic of Kazakhstan of August 28, 2009 №191-IV ЗРК “On Counteraction of Legitimization (Laundering) of Proceeds of Crime and Financing of Terrorism”, as well as normative acts of the National Bank and Ministry of Finance of the Republic of Kazakhstan, “Consolidated Policy of the VTB Group on Counteraction of Legitimization (Laundering) of Proceeds of Crime and Financing of Terrorism” (see our bank’s site) has been implemented and “Compliance Regulations for the purpose of Counteraction of Legitimization (Laundering) of Proceeds of Crime and Financing of Terrorism” approved by the Subsidiary Company of the JSC VTB Bank (Kazakhstan).
In accordance with the above documents, the SO JSC VTB Bank (Kazakhstan):
- does not open accounts (deposits) to the anonymous persons, in other words to those physical and legal entities intending to open an account (deposit) without identification documents;
- does not open accounts (deposits) to private customers without their personal presence or presence of their representatives while opening the account;
- does not establish, maintain relations with banks-non-residents having no permanent executive bodies in the countries they are incorporated;
- does not have accounts with banks incorporated in the countries (territories) known from international sources that they do not observe generally recognized principles of Counteraction of Legitimization (Laundering) of Proceeds of Crime and Financing of Terrorism.
For the purpose of organizing internal control system and meeting the requirements of legislation, the SO JSC VTB Bank (Kazakhstan) appointed an official responsible for observance by the Bank divisions of Internal rules of control on anti-money laundering and counter-terrorist financing and its implementation programs and also developed permanent training and education curriculum for the employees on anti-money laundering and counter-terrorist financing.
The management of the Bank at all levels of its organizational structure carries out recommended control based on the nature and scale of operations performed by the Bank preventing involvement of the Bank and its employees in illegal financial operations.
Bank internal audit service continuously monitors compliance of the structural divisions of the Bank with the internal control rules and procedures concerning anti-money laundering and counter-terrorist financing.
Additionally, we inform that the SO JSC VTB Bank (Kazakhstan) is registered with the US Internal Revenue Service in order to comply with the requirements of US law "On Foreign Account Tax» (Foreign Account Tax Compliance Act, FATCA) as a Registered Deemed Compliant FFI.