ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of April 5, 2016 No. 161

About approval of Requirements to rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for credit partnerships

According to Item 3-2 of article 11 of the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" PRIKAZYVAYU:

1. Approve the enclosed Requirements to rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for credit partnerships.

2. (Tadzhiyakov B. Sh.) in the procedure established by the legislation to provide to committee on financial monitoring of the Ministry of Finance of the Republic of Kazakhstan:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days after state registration of this order its direction on official publication in periodic printing editions and information system of law of Ad_let;

3) within five working days from the date of receipt of this order from the Ministry of Justice of the Republic of Kazakhstan its direction in the Republican state company on the right of economic maintaining "The republican center of legal information" of the Ministry of Justice of the Republic of Kazakhstan for placement in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

4) placement of this order on the Internet resource of the Ministry of Finance of the Republic of Kazakhstan.

3. This order becomes effective after ten calendar days after day of the first official publication.

Approved by the Order of the Minister of Finance of the Republic of Kazakhstan of April 5, 2016 No. 161

Requirements to rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for credit partnerships

Chapter 1. General provisions

1. These Requirements to rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism for credit partnerships (further - Requirements) are developed according to the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of the income received in the criminal way and to terrorism financing" (further - the Law) and International standards of Group of development of financial measures of anti-money laundering (further - FATF).

2. In these Requirements to subjects of financial monitoring credit partnerships belong (further - Subjects).

3. If Requirements do not provide other, then the concepts applied in Requirements are used in the values specified in the Law, the Law of the Republic of Kazakhstan of March 28, 2003 "About credit partnerships".

4. For the purposes of Requirements the following basic concepts are used:

1)  No. 658 is excluded according to the Order of the Minister of Finance of the Republic of Kazakhstan of 10.11.2017;

2) the client - the physical person or legal entity receiving services of Subjects;

3) form of data and information on the transaction which is subject to financial monitoring - the form determined by Rules of representation by the subjects of financial monitoring of data and information on the transactions which are subject to financial monitoring approved by the order of the Government of the Republic of Kazakhstan of November 23, 2012 No. 1484 (further - the FM-1) Form;

4) risks of legalization (washing) of income gained in the criminal way and to terrorism financing - possibility of deliberate or inadvertent involvement of Subjects in processes of legalization (washing) of income gained in the criminal way and to financing of terrorism or other criminal activities;

5) risk management of legalization (washing) of income gained in the criminal way and to terrorism financing - set of the measures for monitoring, identification of risks of legalization (washing) of income gained in the criminal way and terrorism financing, and also their minimization taken by Subjects (concerning services, clients);

6) No. 658 is excluded according to the Order of the Minister of Finance of the Republic of Kazakhstan of 10.11.2017;

5. Internal control is exercised for the purpose of:

1) ensuring accomplishment by Subjects of requirements of the legislation of the Republic of Kazakhstan on counteraction of legalization (laundering) of income gained in the criminal way and to terrorism financing (further - POD/FT);

2) maintenance of system effectiveness of internal control at the level sufficient for risk management of legalization (washing) of income gained in the criminal way and to terrorism financing (further - OD/FT);

3) risk minimizations of OD/FT.

6. No. 658 is excluded according to the Order of the Minister of Finance of the Republic of Kazakhstan of 10.11.2017

7. No. 658 is excluded according to the Order of the Minister of Finance of the Republic of Kazakhstan of 10.11.2017

8. PVK are the document which regulates organizational bases of the work directed to POD/FT and establishes operations procedure of Subjects for the purpose of POD/FT.

9. PVK include programs according to Item 3 of article 11 of the Law.

10. No. 658 is excluded according to the Order of the Minister of Finance of the Republic of Kazakhstan of 10.11.2017

11. In case of introduction of amendments and (or) amendments to the legislation on POD/FT, Subjects within 30 calendar days make corresponding changes and (or) amendments to PVK.

Chapter 2. The program of the organization of internal control for the purpose of POD/FT, including requirements imposed to the workers of subjects of financial monitoring responsible for realization and observance of Rules of internal control

12. The program of the organization of internal control for the purpose of POD/FT contains:

1) the procedure of the organization of internal control, including the description of functions of the responsible person or structural division, including order of interaction with other structural divisions of the Subject when implementing internal control for the purpose of POD/FT;

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