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The EBRD is hosting a seminar on anti-money laundering (AML) and counter financing of terrorism (CFT) for financial institutions in Almaty

The European Bank for Reconstruction and Development (EBRD) is continuing to support financial institutions in Kazakhstan by organising a three-day international seminar on anti-money laundering and counter financing of terrorism, with a particular focus on international sanctions. The event, which is taking place in Almaty on 5, 6 and 7 November 2014, will be attended by about 50 local bankers, and representatives from state banks, private banks and microcredit deposit organisations.

During the workshop, the Bank will deliver a training programme that combines presentations from the National Bank of Kazakhstan, the Committee on Financial Monitoring (the Kazakh financial intelligence unit) and international experts. The seminar also includes discussion panels and “train the trainer” sessions, which deal with key aspects of activities that fall under the definition of “financial crime”.

The main objective of the seminar is to raise awareness on the risks of financing terrorism and being involved in money laundering. The event aims to assist local bankers in not only establishing and upgrading their organisations’ AML policies and procedures, but also in putting them into practice.

“In today’s international financial markets, there is an increasing focus on transparency and identifying the source of funds. So it is essential that banks understand and follow AML/CFT policies and procedures. This seminar will help Kazakh banks ensure compliance with those policies,” said Janet Heckman, the EBRD’s Director for Kazakhstan.

Recognising that sanctions are increasingly imposed not only on named entities but also over areas of economic activity within a designated geographical region, the workshop will not only address current AML and CFT challenges, but will also focus on international sanctions provisions.

Since 2002 the EBRD has organised AML trainings in over 20 countries attended by around 800 bankers from approximately 500 banks and financial institutions.