Senate approves bill combating money laundering

ASTANA. May 17. KAZINFORM Senate approved in the first reading a bill "On amendments to some legislative acts of the Republic of Kazakhstan on counteraction to laundering of illegally gained income and financing of terrorism."

While presenting the bill Kazakh Finance Minister Ruslan Dalenov noted payments between legal entities would be made ​​only by bank transfers if the sum of a transaction exceeded the prescribed amount.

In addition, individual entrepreneurs and legal entities will be subjected to administrative sanctions due to lack of equipment designed to make payments via credit cards. It was also proposed to change the threshold values for transactions subject to financial monitoring.