Nurbank Fined Twice in One Month for Anti-Money Laundering Violations
Photo: Elements.envato.com
Nurbank JSC has been hit with two fines in the past month, totaling over 36.5 million tenge, for failing to report its actions on money laundering, reports Orda.kz.
The penalties were issued by the Agency for Regulation and Development of the Financial Market (ARDFM).
According to agency records, the first fine was imposed on January 22, when Nurbank failed to report transactions required under Kazakhstan’s law on combating money laundering. The bank was fined 14.398 million tenge for this violation.
Just two weeks later, on February 5, the agency issued a second fine for a similar offense, this time amounting to 22.152 million tenge. It remains unclear whether this was a repeat violation or a separate infraction.
Orda.kz has sent an official inquiry to ARRFR to clarify the details of Nurbank’s violations and whether further sanctions are expected.
Nurbank is controlled by the family of prominent businessman Rashit Sarsenov through JP Finance Group LLP.
His son, Yeldar Sarsenov, officially took over as CEO in November 2024.
Original Author: Nikita Drobny
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