Toqayev Ratifies Agreement Establishing CIS Center to Assess Money Laundering and Terrorism Financing Risks

President Qasym-Jomart Toqayev has signed the law “On ratification of the Agreement on the establishment of the International Center for Assessing the Risks of Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism,” Orda.kz reports.

The agreement aims to create a unified mechanism for information exchange among the financial intelligence units of CIS member states, improving the effectiveness of efforts to combat money laundering and the financing of terrorism.

The document establishing the Center was originally signed on October 13, 2023, in Bishkek.

The new organization will assess money-laundering risks, facilitate information exchange between participating countries, and develop common standards for countering financial crimes.

The Center will also provide training and professional development for specialists in financial monitoring and risk analysis, and promote stronger cooperation between financial institutions and law enforcement agencies.

According to Senator Nurlan Bekenov, the Center will rely on data from open sources and will not involve the exchange of confidential information. This approach, he said, will enhance intergovernmental cooperation while maintaining data protection standards.

Original Author: Rustam Muratov