Deputy Discusses Why Kazakhstan Must Reclaim Assets from Oligarchs’ Families

Majilis deputy Marat Bashimov is calling on Kazakhstan’s authorities to strengthen laws aimed at recovering illicit assets, tackling corruption, and preventing money laundering.

In a Facebook post, Bashimov outlined his proposals and confirmed that he had submitted them in a letter to Prosecutor General Berik Asylov, Orda.kz reports. 

Bashimov emphasized the need not only to repatriate money funneled abroad but also to implement a policy of "extended confiscation"— the seizure of property from individuals unable to prove the legal origin of their assets.

An important anti-money laundering bill is about to be presented for its first reading in the Majilis. I’ve introduced 100 amendments, legal norms based on recommendations from the FATF (Financial Action Task Force – Ed.). The concept of 'extended confiscation' is critical for our country. Nowhere in the world has so much been stolen.Bashimov said. 

According to Bashimov, many countries have already adopted FATF’s guidelines by tightening asset recovery laws.

In Kazakhstan, such reforms had been stalled for years due to lobbying pressures, but he believes the time has come for decisive action. He also noted that although Kazakhstan has not fully ratified the UN Convention against Corruption, it remains a party to it — and thus has an obligation to combat illicit enrichment, not only among officials but also their relatives.

Right now, because this legal provision doesn’t exist, many people avoid full responsibility by transferring their assets to third parties. As a result, their property isn’t fully confiscated. The convicted person serves their sentence knowing that assets passed to relatives, mistresses, or others remain untouched — and that they’ll be able to enjoy that wealth once they’re out,said Marat Bashimov. 

The draft legislation defines "property acquired by criminal means" as including assets held by third parties — such as family members, accomplices, or affiliated legal entities — even if transferred through gifts or suspiciously low-priced sales.

With extended confiscation, there’s no need for a separate trial or conviction related to the previous criminal activity that supposedly generated the assets, since the alleged previous criminal activity doesn't have to be clarified. This measure only applies to property whose legal origin the person cannot explain. The proposed mechanism is simple: if someone is under investigation, they must prove the lawful acquisition of their remaining assets. If they can’t, those assets are subject to confiscation,the deputy explained. 

Bashimov clarified that such measures should not apply universally, but specifically target high-ranking civil servants, politicians, and senior officials in public institutions.

It’s time to enact everything we’ve delayed for years in the fight against money laundering, and for real justice in this matter to finally prevail. That work is already underway,he said.  

Meanwhile, some Majilis deputies have proposed a capital amnesty instead, offering immunity to wealthy individuals who repatriate funds in exchange for reinvesting them into Kazakhstan’s economy.

Original Author: Nikita Drobny