The regulator explains that this decision is aimed at combating money laundering and preventing financial crimes.
The obligations being introduced for exchange offices include:
- identification of clients, including foreigners, and verification of their documents;
- determining the source of funds when necessary;
- paying special attention to large and suspicious transactions;
- suspending suspicious transactions and notifying the National Bank of the Kyrgyz Republic about this;
- storing information about conducted exchange operations for at least five years.
Thus, the new requirements will take effect on January 14.
