First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan, Daniyar Amangeldiev, chaired the 17th meeting of the commission on combating the financing of criminal activities and the legalization of criminal proceeds. The meeting was attended by the heads of more than 20 ministries and agencies.
The commission noted the country’s high level of readiness for the assessment. Eleven interagency working groups have already been established, the documentation stage has been completed, and responses to international questionnaires have been submitted.
In addition, the structure of the National Strategy on Countering Terrorist Financing and Money Laundering was approved. The draft document is expected to be completed by September 1. The strategy will include measures aimed at introducing digital technologies, developing financial investigations, and regulating virtual assets.
Special attention was paid to transparency of beneficial ownership. Tax authorities were instructed to introduce notifications in taxpayers’ online accounts reminding them to disclose and update information on the ultimate beneficial owners of businesses.
The commission also approved reports and plans to reduce risks related to the financing of weapons of mass destruction proliferation, as well as risks in the real estate and non-profit sectors. Additional risk assessments involving foreign companies and the gambling industry have also begun.
Another decision was to start drafting a plan for implementing the FATF «Travel Rule» for the virtual asset market, aimed at strengthening oversight and security of crypto-asset transactions.
