Regulatory Alerts | 129896Regulation on Minimum Requirements for Internal Control Organization in Currency Exchange Offices in the Kyrgyz Republic to Counter Financing of Criminal Activities and Money Laundering
The National Bank of the Kyrgyz Republic issued this regulation to establish minimum internal control requirements for licensed currency exchange offices to combat money laundering and terrorist financing. The document mandates the implementation of risk-based customer due diligence, enhanced scrutiny for public officials and high-risk jurisdictions, and strict reporting obligations for suspicious transactions. It further requires exchange offices to maintain comprehensive internal control programs, conduct regular risk assessments, and designate responsible personnel for compliance oversight.
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