Transactions may be suspended if there are suspicions, with subsequent notification of financial intelligence.
Starting January 14, a new requirement to provide information about the origin of funds when exchanging currency will come into effect in exchange offices in Bishkek. This requirement has become part of new regulations approved by the National Bank on December 19 of last year.
These changes will affect all clients of exchange offices, including foreign citizens.
If the amount of a single transaction or related transactions is between 100,000 and 1 million soms, the exchange office will be required to verify the client's identity and document this transaction.
For certain categories of clients, including public figures, confirmation of the source of funds will be required, including checks against the sanctions lists of Kyrgyzstan and the UN Security Council.
In case of suspicions, exchange transactions may be halted, and to continue them, permission from the management of the exchange office and additional documents will be required.
Exchange offices will be obliged to report all suspicious transactions to financial intelligence.
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