OSCE - Organization for Security and Co-operation in Europe

05/14/2021 | Press release | Distributed by Public on 05/14/2021 04:28

OSCE supports seminar on suspicious transactions reporting in Nur-Sultan

An OSCE-supported two-day training seminar on suspicious transactions reporting (STR) concluded on 14 May 2021 in Nur-Sultan.

Some 180 representatives from the Financial Market Regulation and Development Agency, the Financial Monitoring Agency, the National Bank and second-tier banks attended the event, which was conducted in a blended format.

International experts from Slovenia and Croatia shared their expertise on best practices in the OSCE region related to STR. They elaborated on indicators for classifying an activity as an unusual and suspicious transaction. They also covered topics such as assessing money laundering and terrorist financing risks, risk management system tools, and aspects related to ensuring the quality of STRs submitted to authorized agencies.

Situation analysis in Kazakhstan concluded each day of the training seminar. The experts, based on a previously implemented national anti-money laundering legislation desk review, identified legal gaps and proposed country-tailored recommendations to address the shortcomings.

The OSCE Programme Office in Nur-Sultan organized the event in co-operation with the Financial Monitoring Agency as part of the Office's multi-year efforts to promote good governance and advance the host country's Anti-Money Laundering/Combating the Financing of Terrorism system in compliance with Financial Action Task Force (FATF) standards.