Ulan Raisov, the First Deputy Chairman of the Financial Monitoring Agency, proposed tightening responsibility for illegal capital outflow from the country during a roundtable discussion in the Senate on April 30.
He pointed out the difficulty for law enforcement in proving intent behind the illegal outflow or failure to return money on time. Raisov emphasized the challenges in prosecuting such cases and highlighted the weak practice of holding individuals criminally accountable. Since January 2022, the Financial Monitoring Agency has been conducting rigorous monitoring of capital outflows, with ongoing efforts to enhance legislation and sanctions related to criminal responsibility. Raisov expressed confidence in the collaborative efforts leading to improvements in the legal framework and sanctions, making the work easier in the future.
Moreover, Raisov stressed the need to strengthen monitoring of electronic money transactions, particularly focusing on virtual assets and cryptocurrencies. He underlined the emergence of numerous schemes in this area, emphasizing the importance of bringing them under control.
On April 30, 2024, Deputy Sultanbek Makezhanov disclosed that billions of dollars are annually being withdrawn from Kazakhstan.
