Kazakhstan Deploys Interpol Silver Notice to Track Oligarch Assets

The Prosecutor General's Office of Kazakhstan has, for the first time, used a new Interpol tool to search for and return illegally acquired assets, Orda.kz reports.

This search is called a "silver notice." It provides an opportunity to learn about the property abroad of those who are on the so-called black list (which includes oligarchs whose assets are subject to return to the state).

This is not only about movable and immovable property, but also about money that could have been obtained illegally. If previously Interpol mainly worked with the search for people, now attention is paid to assets that can be seized or returned to the owner by decision of different countries.

Kazakhstan has the right to request information from 196 countries.

Since 2022, Kazakhstan has intensified efforts to bring back wealth siphoned offshore by members of the former elite and major business figures. Kairat Baranbayev and Kairat Satybaldyuly have come under such scrutiny.

In other cases, the authorities limit themselves to figures – the amounts of returned funds or assets are named, but the names of the owners are not disclosed. 

Exceptions arise when it comes to real estate or business facilities inside Kazakhstan. In such situations, journalists often independently establish who exactly owned the assets; the authorities prefer not to advertise names.

At a press conference, Prime Minister Olzhas Bektenov explained why Kazakhstanis still do not know the details about the returned assets and which of the former oligarchs returned the funds to the budget.

We disseminate information to the extent that the law provides for. The Asset Recovery Commission, which I head as Prime Minister, has entered into an agreement with the subjects of the law, that is, with those persons who return these assets, for 900 billion tenge. Specific names are not disclosed. This is a requirement of the law,Bektenov stated.

The authorities believe that disclosing specific names could harm businesses, including large companies that have foreign partners.

Original Author: Artyom Volkov