The Agency for Regulation and Development of the Financial Market of Kazakhstan has limited the validity period of payment cards for non-residents to one year. This is stated in a press release on the regulator’s website.
Author:
https://rb.ru/author/mihail-zelenin/
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It follows that the measure aims to reduce the risks associated with the use of banking services for criminal purposes, in particular drug trafficking and the illegal transfer of digital assets.
The restriction does not affect businessmen, diplomats and investors, and does not apply to bank cards already issued by non-residents, the department told Kursiv.
In addition, the regulator forced banks to automate the detection of illegal money laundering transactions, terrorist financing and payment transfers in favor of online casinos.
In October 2023, the National Bank of Kazakhstan proposed prohibiting foreigners without a temporary residence permit or residence permit from receiving cards in the country. The National Bank argued that this measure would help combat illegal payments.
Author:
Mikhail Zelenin
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
