unofficial translation
LAW OF THE KYRGYZ REPUBLIC
dated 6 August 2018 No. 87
On Counteracting the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds
(As amended by the Laws of the Kyrgyz Republic dated 8 July 2019 No. 83, 21 August 2020 No. 139, 5 August 2022 No. 81, 28 December 2022 No. 125, 7 February 2024 No. 38, 23 January 2025 No. 26)
See also:
Resolution of the Government of the Kyrgyz Republic dated 25 December 2018 No. 606 “On Measures to Implement the Law of the Kyrgyz Republic ‘On Counteracting the Financing of Terrorist Activities and the Legalization (Laundering) of Criminal Proceeds’”
This Law establishes a system of measures aimed at counteracting the financing of terrorist activities and the legalization (laundering) of criminal proceeds, as well as counteracting the financing of extremist activities, the financing of organized groups or criminal communities, and the financing of the proliferation of weapons of mass destruction.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Chapter 1. General Provisions
Article 1. Basic Concepts and Terms Used in This Law
1. The following basic concepts and terms are used in this Law:
1. shell bank — a non-resident bank registered as a bank and licensed to conduct banking activities in a state (territory) in which it has no physical presence or does not, in fact, have management bodies, and which is not affiliated with any regulated financial group subject to consolidated supervision;
2. beneficial owner — a natural person (natural persons) who ultimately (through a chain of ownership and control), directly or indirectly (through third parties), owns or controls a client, or a natural person on whose behalf or in whose interests a transaction (deal) is conducted;
3. verification — a procedure for verifying the identification data of a client and/or beneficial owner;
4. high-risk countries — states and territories (entities) that do not apply or apply insufficiently the international standards on anti-money laundering, countering the financing of terrorism, and countering the financing of the proliferation of weapons of mass destruction, as well as offshore zones;
5. business relationships — relationships between a client and a financial institution or between a client and a non-financial category of persons arising on the basis of an agreement (oral or written) on the provision of services for conducting a transaction (deal);
6. freezing of a transaction (deal) and/or funds — prohibition of conducting a transaction (deal) with funds or the transfer, conversion, disposal, and movement of any funds;
7. identification — a procedure for establishing identification data of a client and/or beneficial owner;
8. foreign trust — a system of legal relations created by the settlor of a foreign trust in accordance with the legislation of a foreign state, under which property belonging to the settlor of the foreign trust is transferred to the management of a trustee or custodian in the interests (for the benefit) of any natural or legal person, or a foreign legal arrangement, which are entitled to receive monetary or other benefits, or for a specific purpose;
9. client — a natural or legal person (organization), foreign trust, or legal arrangement accepted for servicing or being serviced by a financial institution or a non-financial category of persons, or with whom a financial institution or a non-financial category of persons establishes or has established business relationships;
10. legalization (laundering) of criminal proceeds — giving a lawful appearance to the possession, use, or disposal of criminal proceeds by performing any actions (transactions or deals) to transform (convert) or transfer property, if it is known that the property constitutes proceeds of crime, for the purpose of concealing or disguising the criminal origin of the property or assisting a person involved in committing a crime to evade liability for acts committed; or concealing or disguising the true nature of the source, location, method of disposal, or movement of property, as well as rights to property or its ownership, if it is known that the property constitutes proceeds of crime; or concealing or continuously retaining property by a person not involved in committing a crime, if the person knows that the property was obtained as a result of committing a crime; or acquiring, possessing, or using property if, at the time of its receipt, the person knew that the property constituted proceeds of crime;
11. aggregated material — a document containing information on suspicion of financing of criminal activities or legalization (laundering) of criminal proceeds and related predicate offenses, prepared by the financial intelligence unit based on the results of analysis of reports on transactions (deals) and other information;
12. bearer negotiable instruments — monetary instruments in bearer form and circulating without restriction or incomplete monetary instruments (traveler’s checks and bank checks, monetary and settlement checks, promissory notes, securities, obligations, and monetary orders in documentary form certifying the issuer’s (debtor’s) obligation to pay monetary funds) in which the person to whom payment is made or the identification data of the recipient of the monetary instruments are not indicated;
13. transactions (deals) — any transactions (deals) with funds carried out to establish, change, or terminate civil rights and obligations in relation to funds;
14. predicate offense (underlying offense) — any crime provided for by the criminal legislation of the Kyrgyz Republic or a foreign state, as a result of which income (funds) constituting the object (subject) of legalization (laundering) of criminal proceeds is obtained;
15. criminal proceeds — income (funds) obtained or derived directly or indirectly as a result of committing a crime on the territory of the Kyrgyz Republic or a foreign state;
16. principle of reciprocity — a generally recognized principle of international relations under which authorized state bodies of the Kyrgyz Republic carry out international cooperation with competent authorities of a foreign state on a mutually beneficial and equal basis and on the basis of a written obligation of each party to carry out international cooperation;
17. politically exposed persons — one of the following natural persons:
a) foreign politically exposed person — a person who performs or has performed prominent public or political functions (public functions) in a foreign state (heads of state or government, senior officials in government and other state bodies, courts, armed forces, state-owned enterprises, as well as prominent political figures, including prominent party officials);
b) domestic politically exposed person — a person holding or having held a political or special state position or a political municipal position in the Kyrgyz Republic provided for by the Register of State and Municipal Positions of the Kyrgyz Republic approved by the President of the Kyrgyz Republic, as well as senior management of state corporations, prominent political figures, including prominent party officials;
c) politically exposed person of an international organization — a senior official of an international organization entrusted or previously entrusted with important functions by an international organization (heads, deputy heads, and members of governing bodies of an international organization or persons holding equivalent positions in an international organization);
18. risk-based approach — application of enhanced measures in the presence of a high level of risk or simplified measures in the presence of a low level of risk in accordance with established risk management procedures (identification, assessment, monitoring, control, and risk mitigation);
19. Sanctions List — a list of natural and legal persons, groups, and organizations in respect of which there is information on the commission and/or participation in the commission of criminal activities, formed in accordance with Article 12 of this Law;
20. funds — one of the following assets:
a) cash and any financial assets;
b) economic resources, including oil and other natural resources;
c) property of any kind (tangible or intangible, movable or immovable) regardless of the method of acquisition;
d) legal documents or instruments in any form, including electronic or digital, providing rights or interests in the above-mentioned property or assets;
e) bank loans and funds and/or other property received/issued in accordance with Islamic banking and finance principles, monetary and settlement checks, postal money orders, shares, securities, bonds, bank drafts or letters of credit, and any interest, dividends, and income derived from such funds or assets or generated by them;
21. accounts — bank accounts as defined in the banking legislation of the Kyrgyz Republic, or similar business relationships between a financial institution and a client or between a non-financial category of persons and a client;
22. financing of the proliferation of weapons of mass destruction — provision or collection of funds or provision of financial services with the knowledge that the funds are intended or will be used, in whole or in part, to finance the proliferation of nuclear, chemical, and biological weapons and/or their delivery systems;
23. financing of terrorist activities — provision of funds, provision of financial services, or collection of funds by any methods or means, directly or indirectly, with the intent or knowledge that the funds are intended or will be used, in whole or in part, to finance a terrorist and/or a terrorist organization, or to finance the organization of preparation or commission of terrorist activities on the territory of the Kyrgyz Republic or beyond its borders, or to finance travel of persons to a state that is not their state of residence or nationality for the purpose of planning, preparing, committing, or participating in terrorist acts, or for the training of terrorists, or for undergoing such training;
24. financing of extremist activities — provision of funds, provision of financial services, or collection of funds by any methods or means, directly or indirectly (through third parties), with the intent or knowledge that the funds are intended or will be used, in whole or in part, to finance the organization of preparation or commission of extremist activities on the territory of the Kyrgyz Republic;
25. targeted financial sanctions — freezing of any transactions (deals) and/or funds of natural and legal persons, groups, and organizations included in the Sanctions List, and/or restriction of granting such persons, groups, and organizations access (direct or indirect) to any funds or financial services;
26. electronic funds transfer — an operation for transferring funds (cash, non-cash, electronic money) from the originator to the beneficiary of a funds transfer carried out using payment systems;
27. legal arrangements — trusts and other similar legal relationships for the management and disposal of property created in accordance with the legislation of a foreign state.
28. financing of organized groups or criminal communities — provision or collection of funds, items, substances, and/or other property, granting of rights to property or property benefits, or donation, exchange, charitable contribution, charitable assistance, provision of information and other services, or provision of financial services to an organized group or criminal community, or storage, distribution, transfer of funds, items, substances, and/or other property for the needs of an organized group or criminal community, as well as development of channels for their financing;
29. financing of criminal activities — financing of terrorist activities, financing of extremist activities, financing of the proliferation of weapons of mass destruction, financing of organized groups or criminal communities.
2. Concepts and terms not defined in this Article and used in this Law shall be applied in the meaning in which they are used in the sectoral legislation of the Kyrgyz Republic, unless otherwise provided by this Law.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Article 2. Purpose and Objectives of This Law
1. The purpose of this Law is to protect human rights and freedoms, as well as to safeguard the national security and the integrity of the financial system of the Kyrgyz Republic from criminal encroachments.
2. The objectives of this Law are the determination and establishment of the legal and organizational foundations:
1. for the application of preventive measures to counteract the financing of criminal activities, the legalization (laundering) of criminal proceeds, and related predicate offenses;
2. for the detection, suppression, disclosure, and investigation of the financing of criminal activities and the legalization (laundering) of criminal proceeds and related predicate offenses, as well as for the elimination of causes and conditions conducive to the commission of such acts;
3. for strengthening and developing domestic cooperation in the field of counteracting the financing of criminal activities, the legalization (laundering) of criminal proceeds, and related predicate offenses;
4. for strengthening and developing international cooperation in the field of counteracting the financing of criminal activities, the legalization (laundering) of criminal proceeds, and related predicate offenses.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Article 3. Legislation of the Kyrgyz Republic in the Field of Counteracting the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds
1. The legislation of the Kyrgyz Republic in the field of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds is based on the Constitution of the Kyrgyz Republic and consists of this Law and other normative legal acts of the Kyrgyz Republic adopted within the framework of this Law.
2. International treaties that have entered into force in accordance with the procedure established by law and to which the Kyrgyz Republic is a party (hereinafter referred to as international treaties of the Kyrgyz Republic) constitute an integral part of the legislation of the Kyrgyz Republic in the field of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds and shall be applied in the manner and under the conditions not contradicting this Law.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Chapter 2. Subjects Counteracting the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds
Article 4. Subjects Counteracting the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds
1. The subjects implementing measures to counteract the financing of criminal activities and the legalization (laundering) of criminal proceeds shall be:
1. financial institutions and non-financial categories of persons;
2. supervisory authorities;
3. the financial intelligence unit;
4. internal affairs bodies, tax authorities, customs authorities (hereinafter referred to as law enforcement agencies), national security bodies, and prosecution authorities of the Kyrgyz Republic.
2. The Cabinet of Ministers of the Kyrgyz Republic shall establish a coordination and advisory body on issues of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125, 23 January 2025 No. 26)
Article 5. Financial Institutions and Non-Financial Categories of Persons
1. For the purposes of this Law, financial institutions shall mean the following legal entities and branches (representative offices) of foreign legal entities:
1. mortgage companies (organizations);
2. commercial banks;
3. credit unions;
4. leasing companies (organizations);
5. pawnshops;
6. microfinance organizations (microcredit agencies, microcredit companies, microfinance companies, specialized financial and credit institutions);
7. funded pension funds;
8. exchange offices;
9. operators of payment systems using electronic money;
10. reinsurance organizations and brokers;
11. payment organizations;
12. postal service enterprises;
13. professional participants in the securities market;
14. housing savings and construction savings banks;
15. insurance organizations (insurers);
16. insurance brokers;
17. commodity exchanges;
18. issuers and agents (distributors) of electronic money;
19. virtual asset service providers.
2. For the purposes of this Law, non-financial categories of persons shall mean the following natural and/or legal persons and branches (representative offices) of foreign legal entities:
1. state and private notaries;
2. independent lawyers (individual entrepreneurs), law firms and their employees (legal advisers) providing, on a professional basis, services for the preparation of a transaction (deal) or carrying out transactions (deals) on behalf of or for the account of their client on the basis of a concluded contract;
3. real estate agents (agents, brokers, intermediaries, organizers of trade in immovable property, trustees managing immovable property);
4. natural and legal persons carrying out transactions (deals) with precious metals and stones, jewelry made thereof, as well as scrap of such items;
5. natural and legal persons providing services for the creation of legal entities or the management of legal entities;
6. legal entities carrying out gambling activities.
3. The list of financial institutions and non-financial categories of persons in the form of an electronic database shall be formed and published by the authorized state body determined by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 5 August 2022 No. 81, 28 December 2022 No. 125, 7 February 2024 No. 38, 23 January 2025 No. 26)
Article 6. Supervisory Authorities
1. The list of supervisory authorities indicating the financial institutions and non-financial categories of persons under their supervision shall be established by the Government of the Kyrgyz Republic.
2. The tasks, functions, and powers (rights and obligations) of supervisory authorities regarding the supervision of compliance with the legislation of the Kyrgyz Republic in the field of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds shall be determined by the Cabinet of Ministers of the Kyrgyz Republic and the National Bank of the Kyrgyz Republic within their respective competences.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125, 23 January 2025 No. 26)
Article 7. Financial Intelligence Unit
1. The financial intelligence unit shall be the authorized state body of the Kyrgyz Republic in the field of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds, established by the President of the Kyrgyz Republic.
2. The tasks of the financial intelligence unit shall include:
1. collection (receipt) and storage of reports on suspicious transactions (deals) and other information on transactions (deals) submitted in accordance with this Law;
2. conducting operational analysis of reports on suspicious transactions (deals) and other information on transactions (deals), as well as available and accessible information, for the purpose of identifying transactions (deals) or acts related to the financing of criminal activities, the legalization (laundering) of criminal proceeds, and predicate offenses;
3. conducting strategic analysis of available and accessible information, including information submitted by state bodies, to determine trends and schemes related to the financing of criminal activities and the legalization (laundering) of criminal proceeds;
4. preparation of aggregated material or information based on the results of operational or strategic analysis and forwarding them, on its own initiative or upon request, to the relevant state bodies within their competences;
5. application of targeted financial sanctions and measures to suspend transactions (deals) in accordance with this Law and in the manner established by the Cabinet of Ministers of the Kyrgyz Republic;
6. implementation of international cooperation in accordance with the legislation of the Kyrgyz Republic in the field of counteracting the financing of criminal activities and the legalization (laundering) of criminal proceeds.
The functions and powers (rights and obligations) of the financial intelligence unit, as well as the reporting procedure of the financial intelligence unit, shall be determined by the Cabinet of Ministers of the Kyrgyz Republic.
3. Entry into service in the financial intelligence unit, service therein, and termination of service in the financial intelligence unit shall be carried out in accordance with the legislation of the Kyrgyz Republic on state civil service and municipal service.
For the period of service in the financial intelligence unit, membership of officials of the financial intelligence unit in political parties, movements, and public associations pursuing political objectives shall be suspended.
4. Interference by state authorities of the Kyrgyz Republic in the activities of the financial intelligence unit in the performance of its tasks and functions shall not be permitted.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125, 7 February 2024 No. 38, 23 January 2025 No. 26)
Article 8. Law Enforcement Agencies, National Security Bodies, and Prosecution Authorities of the Kyrgyz Republic
1. Law enforcement agencies, national security bodies, and prosecution authorities of the Kyrgyz Republic shall take measures to counteract the financing of criminal activities, the legalization (laundering) of criminal proceeds, and related predicate offenses in accordance with this Law and the legislation of the Kyrgyz Republic within their respective areas of activity.
2. Law enforcement agencies and national security bodies, when conducting operational-search activities, carrying out a pre-investigation inquiry, or conducting a criminal investigation, shall be obliged to ensure the investigation of all financial circumstances (financial investigation) related to criminal activities for the purposes of:
1. identifying, preventing, detecting, and investigating the legalization (laundering) of criminal proceeds and the financing of criminal activities;
2. determining the size of the criminal network and/or the scale of the crime;
3. identifying and tracing criminal proceeds, funds, or any other assets;
4. obtaining material evidence that may be used in criminal proceedings.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Article 9. Submission and Protection of Information and Documents
1. State authorities, local self-government bodies, courts, as well as financial institutions and non-financial categories of persons, in accordance with the sectoral legislation of the Kyrgyz Republic, shall submit to the financial intelligence unit the requested information or documents within the time limits specified in the written request of the financial intelligence unit.
The procedure for submission of information and documents to the financial intelligence unit shall be approved by the Cabinet of Ministers of the Kyrgyz Republic.
2. Financial institutions and non-financial categories of persons shall, within ten working days from the date of receipt of the request, submit to the relevant supervisory authority the requested information or documents necessary for the performance of the functions of the supervisory authorities.
3. State authorities and state enterprises of the Kyrgyz Republic shall provide the financial intelligence unit with access to electronic state registers and databases in the manner and scope established by the Cabinet of Ministers of the Kyrgyz Republic.
4. Information and documents, as well as databases of the financial intelligence unit, shall be confidential and protected in accordance with the established procedure.
An internal information security system shall be created and shall operate within the financial intelligence unit to protect information and documents during their processing, storage, and transmission.
Access to information, documents, and databases of the financial intelligence unit shall be granted only on the basis of a decision of the financial intelligence unit in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
5. In the course of identifying and investigating facts of financing of criminal activities, legalization (laundering) of criminal proceeds, and related predicate offenses, law enforcement agencies, national security bodies, and prosecution authorities of the Kyrgyz Republic shall exchange information with the financial intelligence unit in the manner established by the Cabinet of Ministers of the Kyrgyz Republic.
The exchange of information shall not be carried out if the requested information is not related to the investigation of the financing of criminal activities or the legalization (laundering) of criminal proceeds and related predicate offenses.
6. Information or aggregated materials of the financial intelligence unit transmitted to law enforcement agencies, national security bodies, and prosecution authorities of the Kyrgyz Republic shall be confidential documents and shall be used solely for the purposes of preventing or detecting the financing of criminal activities or the legalization (laundering) of criminal proceeds and related predicate offenses.
The procedure for submission and consideration of information or aggregated materials of the financial intelligence unit, as well as the procedure for submission of information on their use, shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
7. Law enforcement agencies, national security bodies, and prosecution authorities of the Kyrgyz Republic shall ensure the confidentiality (shall not transmit or disclose to third parties) of information or aggregated materials of the financial intelligence unit.
8. The following shall not constitute a violation or disclosure of official, banking, tax, commercial secrecy, or secrecy of communications (with regard to information on postal money transfers):
1. submission to the financial intelligence unit of information or documents, including in electronic format, and provision of access to electronic state registers and databases specified in parts 1–3 of this Article;
2. submission by a financial institution or non-financial category of persons of information and documents to the relevant supervisory authority;
3. submission by the financial intelligence unit of information or aggregated material to law enforcement agencies, national security bodies, prosecution authorities of the Kyrgyz Republic, and competent authorities of a foreign state in accordance with their request.
(As amended by the Laws of the Kyrgyz Republic dated 8 July 2019 No. 83, 28 December 2022 No. 125, 23 January 2025 No. 26)
Chapter 3. Preventive Measures
Article 10. Prohibited Actions
1. The following shall be prohibited in the Kyrgyz Republic:
1. commission of the legalization (laundering) of criminal proceeds, financing of terrorist and extremist activities, financing of organized groups or criminal communities, financing of the proliferation of weapons of mass destruction;
2. provision of funds directly or indirectly (through third parties), in whole or in part, or provision of financial services to persons included in the Sanctions List;
3. establishment of a shell bank or continuation of the activities of a shell bank, or establishment or continuation of correspondent relationships with shell banks or respondent banks permitting shell banks to use their accounts, as well as granting shell banks the possibility to use banking and similar accounts;
4. establishment or operation of foreign trusts and legal arrangements not provided for by the civil legislation of the Kyrgyz Republic;
5. use of illegal and unidentified (anonymous) prepaid cards for conducting any transaction (deal), unless other requirements are established by normative legal acts of the National Bank of the Kyrgyz Republic;
6. opening and/or maintaining anonymous accounts or accounts under knowingly fictitious names;
7. provision of money and value transfer services without the appropriate license and/or registration in accordance with the legislation of the Kyrgyz Republic on the payment system;
8. provision of services for state registration of transactions involving immovable and movable property and objects of intellectual property (inventions, utility models, industrial designs, trademarks, service marks) belonging to persons included in the Sanctions List.
2. Financial institutions and non-financial categories of persons, as well as managers and employees of financial institutions and non-financial categories of persons, shall be prohibited from disclosing to a client or third parties, or warning them about the forthcoming submission or the fact of submission to the financial intelligence unit of a report on a suspicious transaction (deal) or other information requested by the financial intelligence unit. Disclosure to third parties of the fact of submission of information to the financial intelligence unit shall be permitted only in cases where testimony is required in accordance with the criminal procedural legislation of the Kyrgyz Republic.
3. Employees of the financial intelligence unit, including management and former employees, as well as persons who have entered into employment contracts with the financial intelligence unit, after termination of service or employment relations, shall be prohibited from disclosing, transmitting, or using in any manner confidential information on the activities of the financial intelligence unit, access to which is restricted to a certain circle of persons, or other official information that became known to them in connection with the performance of official or employment duties, except in cases provided for by this Law and where testimony is required in accordance with the criminal procedural legislation of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 7 February 2024 No. 38, 23 January 2025 No. 26)
Article 11. Risk Assessment of the Financing of Criminal Activities and the Legalization (Laundering) of Criminal Proceeds
1. The Cabinet of Ministers of the Kyrgyz Republic shall determine:
1. the procedure for conducting measures to identify and assess risks of the financing of criminal activities and the legalization (laundering) of criminal proceeds existing in the Kyrgyz Republic (hereinafter referred to as the national risk assessment);
2. the timeframes for conducting the national risk assessment;
3. the list of persons participating in the national risk assessment;
4. the procedure for the formation, approval, and publication of the report on the results of the national risk assessment.
2. Based on the national risk assessment report, the following measures shall be applied:
1. the Cabinet of Ministers of the Kyrgyz Republic shall develop and approve an action plan (strategy) to mitigate the identified risks of the financing of criminal activities and the legalization (laundering) of criminal proceeds;
2. entities implementing measures to counteract the financing of criminal activities and the legalization (laundering) of criminal proceeds shall apply a risk-based approach in the manner established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125, 23 January 2025 No. 26)
Article 12. Sanctions List
1. The Sanctions List shall include:
1. the Consolidated Sanctions List of the Kyrgyz Republic;
2. the Consolidated Sanctions List of the United Nations Security Council.
2. The Consolidated Sanctions List of the Kyrgyz Republic shall contain a list of natural and legal persons, groups, and organizations in respect of which there is information on the commission or participation in the commission of terrorist activities, extremist activities, proliferation of weapons of mass destruction, legalization (laundering) of criminal proceeds, establishment and leadership of an organized group or criminal community for the commission of crimes, participation in such a group or community, or provision of other assistance to such a group or community (hereinafter in this Article referred to as criminal activities), and shall be formed on the basis of one of the following documents:
1. a final and binding judgment of a court of the Kyrgyz Republic finding a natural person guilty of committing criminal activities or financing such activities;
2. a final and binding court decision of the Kyrgyz Republic recognizing and liquidating or prohibiting the activities of a group, organization, or legal entity in connection with the commission of criminal activities or financing such activities;
3. a decision on the initiation of a criminal case or on bringing charges issued in the Kyrgyz Republic against a natural person suspected or accused of committing criminal activities or financing such activities;
4. a decision of an authorized official of an inquiry body, investigator, or court on declaring a suspect, accused, or convicted person wanted (nationally or internationally) for committing criminal activities or financing such activities;
5. a document of the national security body, internal affairs body, or financial intelligence unit of the Kyrgyz Republic prepared on the basis of substantiated information that natural and legal persons, groups, or organizations:
a) directly or indirectly participate in the financing, planning, facilitation, preparation, or commission of criminal activities;
b) are directly or indirectly controlled by persons, groups, or organizations committing criminal activities, or act on behalf of or under the direction of persons, groups, or organizations committing such acts;
6. a judgment (decision) of a court of a foreign state convicting persons, groups, or organizations of committing criminal activities or financing such activities, recognized in the Kyrgyz Republic on the basis of international treaties of the Kyrgyz Republic or on the principle of reciprocity;
7. a list of natural and legal persons, groups, and organizations in respect of which there is information on their participation in criminal activities, formed by a foreign state, an international organization, or an authority authorized thereby, recognized in the Kyrgyz Republic on the basis of international treaties of the Kyrgyz Republic or on the principle of reciprocity;
8. an international request of a competent authority of a foreign state or an international organization concerning persons, groups, and organizations participating in criminal activities or financing such activities.
3. The Consolidated Sanctions List of the Kyrgyz Republic shall also include:
1. legal entities, organizations, and groups that are wholly or jointly owned by, or directly or indirectly (through third parties) controlled by persons, groups, or organizations included in the Sanctions List;
2. natural and legal persons, organizations, and groups acting on behalf of or at the direction of persons, groups, or organizations included in the Sanctions List.
4. A decision to include a natural or legal person, group, or organization in the Consolidated Sanctions List of the Kyrgyz Republic shall be taken in the presence of substantiated and sufficient grounds specified in the document forming the basis for the formation of the Consolidated Sanctions List of the Kyrgyz Republic.
Natural and legal persons, groups, and organizations may appeal the decision on their inclusion in the Consolidated Sanctions List of the Kyrgyz Republic through administrative (pre-trial) procedures or judicial proceedings.
5. Natural and legal persons, groups, and organizations shall be excluded from the Consolidated Sanctions List of the Kyrgyz Republic in the following cases:
1. full or partial cancellation (revocation) of the documents specified in part 2 of this Article;
2. by decision of the authorized state body based on consideration of a written application of a natural or legal person, group, or organization included in the Consolidated Sanctions List of the Kyrgyz Republic, or their legal representatives;
3. by court decision.
6. The procedure for inclusion of a natural or legal person, group, or organization in the Consolidated Sanctions List of the Kyrgyz Republic and exclusion therefrom, as well as the procedure for its publication, shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
7. The Consolidated Sanctions List of the United Nations Security Council shall be formed, updated, and published in accordance with the procedure established by the United Nations Security Council.
The procedure for submitting proposals for the inclusion of persons, groups, and organizations in respect of which there is information on their participation in terrorist activities and the proliferation of weapons of mass destruction in the Consolidated Sanctions List of the United Nations Security Council shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 21 August 2020 No. 139, 28 December 2022 No. 125, 23 January 2025 No. 26)
Article 13. Application of Targeted Financial Sanctions
1. Natural and legal persons operating in the territory of the Kyrgyz Republic, including financial institutions and designated non-financial businesses and professions, as well as state bodies and institutions carrying out state registration of transactions with immovable and movable property and intellectual property objects (inventions, utility models, industrial designs, trademarks, service marks):
1. shall not directly or indirectly (through third parties), in full or in part, provide any funds or render services to natural and legal persons, groups or organizations included in the Sanctions List;
2. shall be obliged to immediately freeze transactions and/or funds of a natural or legal person, group or organization included in the Sanctions List, without prior notification of such persons.
At the same time, financial institutions and designated non-financial businesses and professions, as well as state bodies and institutions carrying out state registration of transactions with immovable and movable property and intellectual property objects (inventions, utility models, industrial designs, trademarks, service marks), shall, within three hours from the moment of fulfilling the requirements of subparagraphs 1 and 2 of this part, notify the financial intelligence unit thereof, including attempts to carry out transactions by natural and legal persons, groups or organizations included in the Sanctions List.
2. The following shall be subject to freezing:
1. any funds owned or controlled by persons, groups or organizations included in the Sanctions List;
2. funds owned or jointly owned, directly or indirectly (through third parties), or controlled by persons, groups or organizations included in the Sanctions List;
3. funds derived or generated from funds owned or jointly owned, directly or indirectly (through third parties), or controlled by persons, groups or organizations included in the Sanctions List;
4. funds of persons, groups or organizations acting on behalf of or under the direction of persons, groups or organizations included in the Sanctions List;
5. funds intended for financing criminal activity, terrorists and extremists, terrorist and extremist organizations, or persons involved in the proliferation of weapons of mass destruction;
6. funds specified in the relevant resolutions of the United Nations Security Council.
3. Transactions and/or funds of a natural or legal person, group or organization included in the Sanctions List shall be frozen for an indefinite period and shall be unfrozen upon exclusion of the natural or legal person, group or organization from the Sanctions List or by a court decision.
4. When applying targeted financial sanctions, the protection of the rights of bona fide third parties acting in good faith shall be ensured in accordance with the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds.
5. The procedure for freezing or unfreezing transactions and/or funds, as well as the procedure for granting access to frozen funds and managing frozen funds, shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
Frozen funds shall be managed and stored in accordance with the procedure determined by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125 and 23 January 2025 No. 26)
Article 14. Measures for the Suspension of Transactions
1. Financial institutions and designated non-financial businesses and professions shall be obliged to immediately suspend a transaction in respect of which a decision has been taken to recognize the transaction as suspicious and to notify the financial intelligence unit thereof within three hours from the moment of suspension of the transaction.
Transactions shall be recognized as suspicious in cases provided for in Article 23 of this Law.
2. A decision to recognize a transaction as suspicious and to suspend a suspicious transaction shall be taken on the basis of an analysis of business relationships or the transaction of the client and related persons and shall contain information indicating that the client and related persons are carrying out a suspicious transaction.
The procedure for recognizing a transaction as suspicious and for suspending a suspicious transaction shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
3. State bodies and institutions carrying out state registration of transactions with immovable and movable property and intellectual property objects (inventions, utility models, industrial designs, trademarks, service marks) shall be obliged to suspend the registration of transactions in respect of which information has been received from law enforcement agencies and national security bodies regarding their involvement with natural and legal persons, groups or organizations included in the Sanctions List, and shall notify the financial intelligence unit thereof within three hours from the moment of suspension.
4. A decision on the further execution of a suspended transaction shall be taken by the financial intelligence unit based on the results of analysis of the suspended transaction in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated 23 January 2025 No. 26)
Article 15. Measures to Ensure Transparency of Beneficial Owners of Legal Persons
1. Legal persons established and registered in the Kyrgyz Republic, as well as branches (representative offices) of foreign legal persons, shall be obliged to:
1. form reliable and up-to-date information on the natural person who ultimately (through a chain of ownership and control), directly or indirectly (through third parties), owns ownership rights of such legal person or controls such legal person (hereinafter referred to as the beneficial owner of the legal person), based on available and accessible information;
2. store information on the beneficial owner of the legal person for at least five years from the date of its formation at the place of registration (location) of such legal person.
2. Holders of shareholders’ registers shall be obliged to:
1. form and update the shareholders’ register of a legal person (hereinafter referred to as the register);
2. store the register for at least five years from the date of its formation;
3. provide information from the register upon request of the financial intelligence unit, including in electronic format, through secure communication channels.
3. Legal persons established and registered in the Kyrgyz Republic, as well as branches (representative offices) of foreign legal persons, shall be obliged to provide the formed information on the beneficial owner of the legal person in accordance with part 1 of this Article, upon request of the financial intelligence unit, including in electronic format, through secure communication channels.
4. An electronic database of beneficial owners of legal persons established and registered in the territory of the Kyrgyz Republic, as well as branches (representative offices) of foreign legal persons, shall be created.
The procedure for formation, updating and storage of the said electronic database and the procedure for access thereto shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
5. Law enforcement agencies, national security bodies, prosecution authorities of the Kyrgyz Republic and supervisory bodies of the Kyrgyz Republic shall, in accordance with the legislation of the Kyrgyz Republic, apply necessary measures to prevent criminals or persons associated with them from owning and/or controlling a share in a legal person or becoming the beneficial owner of a legal person established in the Kyrgyz Republic, as well as branches (representative offices) of foreign legal persons operating in the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated 28 December 2022 No. 125 and 23 January 2025 No. 26)
Article 16. Measures to Protect Non-Profit Organizations
1. The Cabinet of Ministers of the Kyrgyz Republic shall determine authorized state bodies that conduct an assessment of risks of terrorist financing in the non-profit organization sector engaged in the collection and/or distribution of monetary funds or other property for charitable, religious, cultural, educational, social and public purposes, with the participation of representatives of such non-profit organizations.
Based on the results of the risk assessment, types of non-profit organizations exposed to a high risk of being used for terrorist financing shall be identified (hereinafter referred to as high-risk non-profit organizations).
The procedure for conducting the risk assessment, the procedure for discussing its results with the participation of representatives of non-profit organizations, as well as the procedure for publishing information on the results of such assessment shall be established by the Government of the Kyrgyz Republic.
2. High-risk non-profit organizations shall be obliged to:
1. constantly use the Sanctions List in their activities;
2. form and store for at least five years information on the goals and objectives of their declared activities, their founders, persons owning, controlling or managing the non-profit organization, and persons who received funds from such non-profit organization;
3. prepare financial statements on their income and expenses and on transactions conducted with funds, and store them for at least five years;
4. apply control measures ensuring accounting of all funds and their use in accordance with the declared activities of the non-profit organization.
Information on the above measures taken shall be provided to the financial intelligence unit upon its written request.
3. If a non-profit organization has suspicions that it is being used for terrorist financing, such non-profit organization shall send a relevant report to the financial intelligence unit, internal affairs bodies and national security bodies.
4. The Government of the Kyrgyz Republic shall determine authorized state bodies that shall carry out:
1. information and awareness-raising activities among high-risk non-profit organizations on reducing risks of terrorist financing;
2. supervision of activities of high-risk non-profit organizations regarding compliance with the norms provided for in part 2 of this Article;
3. application of effective, proportionate and dissuasive sanctions for violations of the norms provided for in part 2 of this Article;
4. collection of information for the detection, suppression and investigation of cases of use of non-profit organizations for terrorist financing;
5. provision of responses to international requests regarding non-profit organizations involved in terrorist activity or terrorist financing.
(As amended by the Law of the Kyrgyz Republic dated 28 December 2022 No. 125)
Article 17. Measures to Detect the Illegal Cross-Border Transportation of Cash and Bearer Negotiable Instruments
1. The cross-border transportation of cash and bearer negotiable instruments across the customs border of the Eurasian Economic Union in the Kyrgyz Republic, carried out by various means, as well as control over such transportation, shall be regulated in accordance with the legislation of the Kyrgyz Republic in the field of customs affairs, international treaties and acts adopted within the framework of the Eurasian Economic Union.
2. Information obtained as a result of the declaration of cash and bearer negotiable instruments transported across the customs border of the Eurasian Economic Union in the Kyrgyz Republic shall be summarized, and an electronic database shall be formed on its basis, which shall be stored for at least five years from the date of declaration.
The procedure for formation of the electronic database and the procedure for access thereto shall be established by the Government of the Kyrgyz Republic.
3. Measures to detect the illegal cross-border transportation of cash and bearer negotiable instruments across the customs border of the Eurasian Economic Union in the Kyrgyz Republic shall be taken by authorized state bodies determined by the Cabinet of Ministers of the Kyrgyz Republic, without creating any obstacles to the transportation of lawful cash and bearer negotiable instruments, subject to compliance with safeguards aimed at ensuring proper use of information.
(As amended by the Law of the Kyrgyz Republic dated 28 December 2022 No. 125)
Article 18. Measures (Sanctions) Applied in Relation to High-Risk Countries
1. Financial institutions and designated non-financial businesses and professions shall be obliged to apply enhanced customer due diligence measures and other measures (sanctions) commensurate with risks when establishing business relationships and/or carrying out transactions with any natural or legal persons from high-risk countries.
2. Supervisory bodies and other authorized state bodies of the Kyrgyz Republic shall apply measures (sanctions) in relation to high-risk countries.
3. Types of enhanced customer due diligence measures and other measures (sanctions) and the procedure for their application, as well as the procedure for formation and publication of the list of high-risk countries, shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated 28 December 2022 No. 125)
Chapter 4. Internal Control System of Financial Institutions and Designated Non-Financial Businesses and Professions
Article 19. Internal Control Program
1. Financial institutions and designated non-financial businesses and professions shall be obliged to apply an internal control program, including corporate (group) internal control programs, enabling effective compliance with the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds.
2. The internal control program shall comply with the general requirements for internal control programs established by the Cabinet of Ministers of the Kyrgyz Republic.
3. Financial institutions and designated non-financial businesses and professions shall ensure the application of internal control programs by their branches and representative offices, as well as by subsidiaries and affiliates operating in the territory of a foreign state.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125, February 7, 2024 No. 38, January 23, 2025 No. 26)
Article 20. Risk-Based Approach
1. Financial institutions and designated non-financial businesses and professions shall be obliged to:
1. assess, identify, document and continuously update their risks taking into account the results of the national risk assessment and typical criteria for high and low risks;
2. submit information on identified risks to the relevant supervisory authority and the financial intelligence unit in the established manner;
3. develop and apply enhanced or simplified policies, as well as control measures and procedures for risk management and mitigation;
4. apply enhanced or simplified customer due diligence measures taking into account the results of risk assessment;
5. classify their customers based on risk criteria.
2. General requirements for risk assessment, classification, management and mitigation, as well as typical criteria for high and low risks, shall be determined in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125)
Article 21. Customer Due Diligence
1. Financial institutions and designated non-financial businesses and professions shall be obliged to apply the following customer due diligence measures in respect of all their customers:
1. identify and verify the customer;
2. obtain information on the purpose and intended nature of the business relationship;
3. identify the beneficial owner and take reasonable measures to verify the beneficial owner;
4. document the information obtained as a result of customer and beneficial owner identification and verification;
5. store and update information and documents on the customer’s activities and financial status, as well as information and documents obtained as a result of customer due diligence;
6. conduct ongoing customer due diligence throughout the entire period of business relations with the customer and analyze the consistency of transactions conducted by the customer with the available information on the nature of the customer’s activities, financial status, source of funds, and the customer’s risk profile.
The above customer due diligence measures shall be applied in the cases and in the manner established by the Cabinet of Ministers of the Kyrgyz Republic, taking into account the results of risk assessment.
2. Where a customer is represented by an authorized person, financial institutions and designated non-financial businesses and professions shall be obliged to identify and verify such person, verify the relevant authority, and document the information obtained.
3. Financial institutions and designated non-financial businesses and professions shall apply the following additional customer due diligence measures in respect of politically exposed persons:
1. use a risk management system to determine whether a customer, beneficial owner or insurance beneficiary is a politically exposed person;
2. obtain written approval from the head of the financial institution or the head of the designated non-financial business and profession (if applicable) to establish or continue (for existing customers) business relationships with a politically exposed person;
3. establish the source of funds or other assets of the politically exposed person;
4. conduct ongoing and enhanced monitoring of business relationships, including transactions carried out by a politically exposed person, in accordance with the procedure established for high-risk customers.
Financial institutions and designated non-financial businesses and professions shall also apply the above additional customer due diligence measures to family members and close associates (close relatives, business partners and official representatives) of a politically exposed person, as well as to other high-risk customers.
4. Customers shall be obliged to provide financial institutions and designated non-financial businesses and professions with the requested information and/or documents required for customer due diligence.
5. In the event that a customer fails to provide the information and/or documents required for customer due diligence, financial institutions and designated non-financial businesses and professions shall take one of the following decisions:
1. not to establish business relations with the customer (refusal to provide services or to open an account);
2. suspend or terminate an established business relationship with the customer (refusal of service) and terminate the concluded contract with the customer;
3. not to carry out the transaction.
In such cases, financial institutions and designated non-financial businesses and professions shall be obliged to submit a relevant report to the financial intelligence unit within one working day from the date of the decision.
6. When establishing international correspondent banking and similar relationships with foreign banks and financial institutions (respondent institution), financial institutions (correspondent institution) shall be obliged to apply additional measures established by the Cabinet of Ministers of the Kyrgyz Republic.
7. The procedure for conducting customer due diligence for international electronic money transfers and electronic money transfers within the Kyrgyz Republic shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated December 28, 2022 No. 125, January 23, 2025 No. 26)
Article 22. Record Keeping
1. Financial institutions and designated non-financial businesses and professions shall be obliged to retain the following information and documents:
1. information, business correspondence and copies of documents, including customer and beneficial owner questionnaires, obtained as a result of customer due diligence — for at least five years after termination of the business relationship with the customer, closure of the account or completion of a one-off transaction;
2. information and documents on all completed transactions — for at least five years after completion of the transaction;
3. conclusions or analytical reports on conducted transactions — for at least five years after completion of the transaction;
4. information and documents provided for by the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds — for at least five years after termination of the business relationship with the customer, closure of the account or completion of a one-off transaction.
2. A financial institution sending or receiving an electronic money transfer, or through which an electronic money transfer is transited, shall be obliged to retain for at least five years all information on the originator and beneficiary accompanying the electronic money transfer from the moment of completion of the transaction or termination of the business relationship with the customer or closure of the account.
3. The information and documents specified in parts 1 and 2 of this Article shall be retained in a sufficient volume to enable reconstruction of the characteristics of the transaction or tracing of funds by reconstructing the entire transaction chain and, where necessary, to be used as evidence in investigations and judicial proceedings in accordance with the criminal procedure legislation of the Kyrgyz Republic.
4. Financial institutions and designated non-financial businesses and professions shall submit the information and documents specified in parts 1 and 2 of this Article to:
1. the financial intelligence unit and the relevant supervisory authority in accordance with this Law;
2. law enforcement authorities, national security authorities and prosecution bodies of the Kyrgyz Republic in accordance with the criminal procedure legislation of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated January 23, 2025 No. 26)
Chapter 5. Transactions Subject to Control and Reporting
Article 23. Reporting of Suspicious Transactions
1. Financial institutions and designated non-financial businesses and professions shall prepare and submit a suspicious transaction report to the financial intelligence unit in the following cases:
1. where there is suspicion or reasonable grounds to suspect that funds constitute proceeds of crime, including predicate offenses, or are related to the legalization (laundering) of criminal proceeds;
2. where there is suspicion or reasonable grounds to suspect that funds are related to the financing of:
a) terrorists and extremists;
b) terrorist and extremist organizations (groups);
c) terrorist and extremist activities;
d) organized groups or criminal communities;
e) proliferation of weapons of mass destruction.
2. A suspicious transaction report, including an attempted suspicious transaction, shall be submitted regardless of the amount of the transaction.
3. Methodological guidelines for identifying suspicious transactions shall be published in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
4. A suspicious transaction report shall be submitted to the financial intelligence unit within five hours from the moment the transaction is recognized as suspicious in the установленном порядке.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125, January 23, 2025 No. 26)
Article 24. Reporting of Transactions with Persons from High-Risk Countries
1. Financial institutions and designated non-financial businesses and professions shall be obliged to submit a report to the financial intelligence unit on transactions with natural or legal persons from high-risk countries (natural or legal persons registered or operating in high-risk countries), regardless of the transaction amount.
2. The list of transactions with natural or legal persons from high-risk countries subject to reporting to the financial intelligence unit shall be determined in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
3. A report on a transaction with natural or legal persons from high-risk countries shall be submitted to the financial intelligence unit within two working days from the date of the transaction.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125)
Article 25. Reporting of Transactions with Persons Who Have Served Sentences for Criminal Activity
1. Transactions conducted by a natural person who has served a sentence for committing the legalization (laundering) of criminal proceeds, terrorist activity, extremist activity, proliferation of weapons of mass destruction, creation and leadership of an organized group or criminal community for the commission of crimes or participation therein, or other assistance to such a group or community, as well as financing of such criminal activity (hereinafter referred to in this Article as “criminal activity”), shall be subject to mandatory monitoring to identify and prevent repeat criminal activity.
2. Financial institutions and designated non-financial businesses and professions shall be obliged to submit a report to the financial intelligence unit on transactions conducted by a natural person who has served a sentence for criminal activity within two working days from the date of the transaction.
3. The procedure for forming and publishing the List of natural persons who have served sentences for criminal activity shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated January 23, 2025 No. 26)
Article 26. Reporting of Cash and Non-Cash Transactions
1. Financial institutions and designated non-financial businesses and professions shall be obliged to submit a report on cash and non-cash transactions in an amount equal to or exceeding the threshold amount.
2. The list of cash and non-cash transactions and the threshold amount shall be established by the Cabinet of Ministers of the Kyrgyz Republic based on the results of risk assessment.
3. A report on a cash or non-cash transaction shall be submitted to the financial intelligence unit within three working days from the date of the transaction.
4. (Repealed in accordance with the Law of the Kyrgyz Republic dated January 23, 2025 No. 26)
(As amended by the Laws of the Kyrgyz Republic dated December 28, 2022 No. 125, January 23, 2025 No. 26)
Article 27. Procedure for Submitting Transaction Reports
Reports on transactions provided for in Articles 23–26 of this Law shall be submitted to the financial intelligence unit in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125)
Chapter 6. International Cooperation
Article 28. General Provisions of International Cooperation
1. International cooperation in the field of combating the financing of criminal activity, the legalization (laundering) of criminal proceeds and related predicate offenses, as well as the exchange of information or documents and the application of targeted financial sanctions, shall be carried out by authorized state bodies of the Kyrgyz Republic in accordance with the legislation of the Kyrgyz Republic on international relations, international treaties of the Kyrgyz Republic, and resolutions of the United Nations Security Council.
2. In the absence of an international treaty between the Kyrgyz Republic and a foreign state, international cooperation shall be carried out on the basis of reciprocity.
3. International cooperation shall be carried out on the basis of an international request from an authorized state body of the Kyrgyz Republic or a competent authority of a foreign state.
4. The list of authorized state bodies of the Kyrgyz Republic, the procedure for carrying out international cooperation, including the procedure for preparation, transmission, execution and registration of international requests, shall be established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Laws of the Kyrgyz Republic dated December 28, 2022 No. 125, January 23, 2025 No. 26)
Article 29. Main Forms of International Cooperation
1. International cooperation with competent authorities of foreign states and international organizations shall be carried out in the following forms:
1. exchange (receipt or transmission) of any information or documents available to authorized state bodies of the Kyrgyz Republic or which they may obtain within the territory of the Kyrgyz Republic, except for information or documents not subject to transfer in accordance with the legislation of the Kyrgyz Republic on international relations;
2. transmission of information to competent authorities of foreign states (on own initiative or upon request) where there are sufficient grounds (suspicions) indicating the commission of financing of criminal activity, legalization (laundering) of criminal proceeds and related predicate offenses;
3. exchange of experience and information in the field of regulation and supervision of the activities of financial institutions and designated non-financial businesses and professions, as well as inspection of the activities of financial institutions and designated non-financial businesses and professions on the basis of an international request;
4. application of targeted financial sanctions in accordance with this Law, resolutions of the United Nations Security Council, and international requests;
5. provision of assistance in the detection and investigation of financing of criminal activity, legalization (laundering) of criminal proceeds and related predicate offenses, as well as in identifying natural or legal persons involved in such criminal acts;
6. mutual legal assistance at the stages of information gathering, pre-trial investigation, court proceedings and enforcement of court decisions, including surrender of persons (extradition) in criminal cases related to financing of criminal activity, legalization (laundering) of criminal proceeds and predicate offenses;
7. participation in the activities of international organizations on issues of combating the financing of criminal activity and legalization (laundering) of criminal proceeds;
8. participation in other established forms of international cooperation that do not contradict the legislation of the Kyrgyz Republic.
2. Authorized state bodies of the Kyrgyz Republic, within their competence, shall monitor the quality of responses of competent authorities of foreign states to international requests.
(As amended by the Law of the Kyrgyz Republic dated January 23, 2025 No. 26)
Article 30. International Cooperation on the Return of Criminal Assets
1. Funds illegally (criminally) transferred outside the territory of the Kyrgyz Republic and/or confiscated on the basis of a court decision of the Kyrgyz Republic shall be subject to return to the Kyrgyz Republic in full or in part in accordance with criminal procedural legislation and international treaties of the Kyrgyz Republic.
2. International cooperation on the return of funds illegally (criminally) transferred outside the territory of the Kyrgyz Republic shall be carried out in accordance with the procedure established by the Cabinet of Ministers of the Kyrgyz Republic.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125)
Chapter 7. Final Provisions
Article 31. Specific Features of Implementation of This Law by Designated Non-Financial Businesses and Professions
1. Designated non-financial businesses and professions shall comply with the requirements of certain articles of this Law in the following cases:
1. real estate agents (agents, brokers, intermediaries, organizers of real estate trading, trustees managing real estate) shall comply with the provisions stipulated in Articles 18, 21, 22 and 24 of this Law when carrying out a transaction involving the purchase or sale of real estate for their client (seller or buyer of real estate);
2. natural and legal persons carrying out transactions with precious metals and stones, jewelry made thereof, as well as scrap of such items, shall comply with the provisions stipulated in Articles 18, 21, 22, 23 and 24 of this Law when carrying out with a client any transaction involving cash funds, including several related transactions, in an amount equal to or exceeding the threshold amount established by the Cabinet of Ministers of the Kyrgyz Republic;
3. state and private notaries, independent lawyers (individual entrepreneurs), law firms and their employees (legal advisers) shall comply with the provisions stipulated in Articles 18, 21, 22, 23 and 24 of this Law when, on behalf of or at the instruction of their client, they assist in preparing for or carry out transactions in the following areas:
a) purchase or sale of real estate;
b) management of funds, securities or other assets of the client;
c) management of bank accounts, savings accounts or securities;
d) pooling of funds for the purpose of creating, ensuring the operation of or managing a legal entity;
e) creation or ensuring the operation of a legal entity or management of a legal entity and purchase or sale of commercial enterprises;
4. natural and legal persons providing services for the creation of legal entities or management of legal entities shall comply with the provisions stipulated in Articles 18, 21, 22, 23 and 24 of this Law when, on behalf of or at the instruction of their client, they assist in preparing for or carry out transactions in the following areas:
a) acting as an agent for the creation and registration of a legal entity;
b) performing the functions of a director or secretary of a legal entity, a partner in a partnership, or occupying an equivalent management position in a legal entity, or arranging for another natural person to perform such functions;
c) providing a registered office or legal and actual address for a legal entity, partnership, foreign legal arrangement or trust;
d) performing the functions of a trustee of a foreign trust or performing an equivalent function in a foreign legal arrangement, or arranging for another natural person to perform such functions;
e) performing the functions of a nominee shareholder or arranging for another natural person to perform such functions.
2. Designated non-financial businesses and professions shall comply with the provisions stipulated in Articles 9, 10, 11, 13, 14, 15, 19, 20, 25 and 26 of this Law.
(As amended by the Law of the Kyrgyz Republic dated December 28, 2022 No. 125)
Article 32. Liability and Exemption from Liability
1. Financial institutions and designated non-financial businesses and professions guilty of violating or improperly fulfilling the requirements of the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds shall bear liability provided for by the relevant legislation of the Kyrgyz Republic.
2. Natural and legal persons shall bear liability for committing the legalization (laundering) of criminal proceeds, financing of terrorist and extremist activities, financing of the proliferation of weapons of mass destruction, and financing of organized groups or criminal communities in accordance with the criminal legislation of the Kyrgyz Republic.
3. Management and employees of the financial intelligence unit, law enforcement authorities, national security authorities, prosecution bodies, supervisory authorities and state bodies, including former employees, as well as persons who have entered into employment contracts with the financial intelligence unit, shall bear liability for unlawful disclosure and use of information or documents constituting official, commercial, banking or tax secrecy and secrecy of communications (in the part concerning information on postal money transfers), as well as for abuse of official position, in accordance with the criminal legislation of the Kyrgyz Republic.
4. Supervisory authorities shall bear liability for improper (negligent) performance of their functions in monitoring compliance with the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds in accordance with the criminal legislation of the Kyrgyz Republic.
5. Financial institutions, designated non-financial businesses and professions, their managers and officials (employees) shall not bear liability for submitting a suspicious transaction report to the financial intelligence unit or for damage caused to natural or legal persons in connection with the proper performance of obligations provided for by the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds.
6. Freezing of funds and/or transactions, suspension of transactions, refusal to establish business relationships or open a bank account (deposit), refusal to carry out a transaction, as well as suspension or termination of business relationships, termination of a contract with a customer and closure of a bank account shall not entail civil or other liability if such actions are carried out in accordance with the legislation of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds.
(As amended by the Laws of the Kyrgyz Republic dated February 7, 2024 No. 38, January 23, 2025 No. 26)
Article 33. Entry into Force of This Law and Mechanism for Its Implementation
1. This Law shall enter into force upon expiration of fifteen days from the date of its official publication.
Published in the newspaper “Erkin Too” dated August 17, 2018 No. 69.
2. The following shall be deemed invalid:
1. the Law of the Kyrgyz Republic “On Combating the Financing of Terrorism and the Legalization (Laundering) of Proceeds of Crime” dated July 31, 2006 No. 135;
2. the Law of the Kyrgyz Republic “On Amendments and Additions to the Law of the Kyrgyz Republic ‘On Combating the Financing of Terrorism and the Legalization (Laundering) of Proceeds of Crime’” dated June 2, 2009 No. 179;
3. Article 4 of the Law of the Kyrgyz Republic “On Amendments and Additions to Certain Legislative Acts of the Kyrgyz Republic” dated July 25, 2012 No. 123;
4. the Law of the Kyrgyz Republic “On Amendments and Additions to the Law of the Kyrgyz Republic ‘On Combating the Financing of Terrorism and the Legalization (Laundering) of Proceeds of Crime’” dated December 25, 2014 No. 162;
5. Article 6 of the Law of the Kyrgyz Republic “On Amendments and Additions to Certain Legislative Acts of the Kyrgyz Republic” dated April 8, 2015 No. 74;
6. Article 3 of the Law of the Kyrgyz Republic “On Amendments and Additions to Certain Legislative Acts of the Kyrgyz Republic” dated July 28, 2015 No. 200;
7. Article 3 of the Law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts in the Field of Regulation of Lottery Activities” dated May 10, 2017 No. 79.
3. The Government of the Kyrgyz Republic and the National Bank of the Kyrgyz Republic shall, within one month:
1. bring their normative legal acts into compliance with this Law;
2. adopt normative legal acts necessary for the implementation of this Law.
President
of the Kyrgyz Republic S. Zh. Jeenbekov
Adopted by the Jogorku Kenesh
of the Kyrgyz Republic June 28, 2018