According to a report by Ulysmedia.kz, Kazakhstani banks have begun to implement stricter controls over the financial operations of Russians after Russia was placed on the EU blacklist.
Additional checks, according to Deutsche Welle, are a result of Russia now being included in the list of countries with a high risk of money laundering.
In early December, the European Commission added Russia to the list of countries with "strategic deficiencies" in combating the financing of terrorism and the legalization of criminal proceeds.
Experts interviewed by DW report that banks in Kazakhstan, Tajikistan, and Oman have started conducting more detailed checks on transactions involving Russian citizens, while financial institutions in Armenia and Serbia have even begun to temporarily suspend certain operations. These measures apply to both individuals and legal entities.
Kazakhstani regulatory authorities have also intensified their oversight of banks' compliance with anti-money laundering legislation. Last week, it became known that a subsidiary of a major Turkish bank was fined in Kazakhstan for violating relevant regulations, as the bank failed to take the necessary steps to verify its clients.
