Regulatory Alerts2024-12-27 | https://aifc.kz/legal-framework/anti-money-laundering-and-counter-terrorist-financing-rules-full-text/AIFC Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Rules
The Abu Dhabi Global Market Financial Services Regulatory Authority (AFSA) issued these rules to establish a comprehensive framework for anti-money laundering, counter-terrorist financing, and sanctions compliance for all supervised entities within the AIFC. The regulations mandate a risk-based approach requiring relevant persons to conduct business and customer risk assessments, implement robust internal controls, and perform customer due diligence measures tailored to specific risk levels. Additionally, the document outlines strict obligations regarding wire transfers, digital assets, correspondent banking, and the appointment of Money Laundering Reporting Officers to ensure adherence to Kazakhstani law and international standards.
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