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Published

10/17/2024, 14:22

A commercial bank is fined 441,000 KGS for violating the law on combating money laundering

The State Financial Intelligence Service imposed a fine of 441,000 KGS on one of the country's commercial banks. 

The reason for the fine is violations of legislation in combating the terrorism financing and legalisation (laundering) of criminal incomes.

According to Article 355 of the Code of Administrative Offences of the Kyrgyz Republic, the bank failed to comply with the requirements regarding the procedure and timing of notification of transactions with individuals and legal entities from high-risk countries.


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