Regulatory Alerts2024-06-23 | https://aifc.kz/legal-framework/practical-guidance-to-aifc-anti-money-laundering-and-counter-terrorist-financing-framework/Added · Updated
Practical Guidance to AIFC Anti-Money Laundering and Counter-Terrorist Financing Framework
This Practical Guidance assists Relevant Persons in the Astana International Financial Centre in adjusting their understanding of the AIFC AML/CFT framework and designing internal policies, procedures, and controls. It establishes that the use of 'must' or 'should' indicates a mandatory requirement, and non-adherence may lead to adverse findings or be admissible as evidence in proceedings. The document outlines a risk-based approach requiring Relevant Persons to conduct business and customer risk assessments, considering factors such as country, customer, product, and delivery channel risks. It also details obligations regarding customer due diligence, ongoing monitoring, suspicious transaction reporting, record-keeping, and staff training.
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