Money laundering: Cabinet approves regulation on compliance inspections

12:05, 04 декабря 2025, Bishkek - 24-kg.com news agency , Baktygul OSMONALIEVA

The Cabinet of Ministers of Kyrgyzstan has approved a regulation outlining the procedure for inspecting compliance with legislation on combating the financing of criminal activities and money laundering. The resolution was signed by Cabinet Chairman Adylbek Kasymaliev.

The document also includes the list of supervisory bodies and defines their rights and obligations during monitoring and on-site inspections.

According to the government’s decision, the following bodies are designated as supervisory authorities:

• National Bank, authorized to monitor commercial banks, credit unions, microfinance organizations, exchange offices, payment organizations, electronic money operators/issuers, housing construction savings institutions, and virtual asset service providers licensed by the National Bank;
• Financial market regulator, responsible for inspecting leasing companies, pawnshops, private pension funds, gambling businesses, insurance and reinsurance companies and brokers, professional securities market participants, commodity exchanges, and virtual asset service providers;
• Authorized postal authority, which oversees postal service enterprises;
• Authorized precious metals authority, which inspects operations involving precious metals and stones, jewelry and scrap;
• Ministry of Justice, responsible for public and private notaries;
• Self-regulatory organizations, which monitor mortgage companies, real estate agents/brokers, independent lawyers and law firms, as well as providers of services for establishing or managing legal entities.

Inspections will be conducted based on a risk-oriented approach. Supervisory bodies must identify and manage risks and allocate resources toward high-risk entities.

They must also update registries of supervised subjects, respect their rights, and verify founders/beneficial owners and management for compliance with requirements of good business reputation.

Inspections may take the form of remote monitoring or on-site visits.

A commission under the Cabinet of Ministers will coordinate the work of supervisory bodies.