Kazakhstan's Parliament Under Fire for Lack of Transparency on Illicit Capital Outflows

Kazakhstan's Parliament Debates Anti-Money Laundering Bill Amidst Transparency Concerns Kazakhstan's Majilis recently engaged in a heated debate surrounding a new bill aimed at combating money laundering and the financing of terrorism. The discussion took a sharp turn when Deputy Yerlan Sairov challenged the government's transparency, demanding answers regarding the total sum of illegally transferred assets from the country over the past three decades. "My question was specific," stated Sairov, expressing his disappointment with the response from the Committee on Asset Return. "We need to know how much money has been illegally transferred out of Kazakhstan in the last 30 years. What is the Financial Monitoring Agency doing to recover these assets? If you don't have the information, say so. But the lack of data suggests a lack of understanding of the situation." The Committee, represented by Zheńis Elemesov, admitted to not having the exact figures readily available but promised to provide them after the session. Elemesov highlighted the agency's ongoing financial investigation projects and stated, "From 2024 to today, 420 billion tenge has been returned to state accounts, and criminal proceeds of 200 billion tenge have been identified." This response, however, did not fully satisfy Sairov's concerns. The debate underscores the need for greater transparency and accountability in addressing illicit financial flows. The Majilis's continued discussion of this crucial bill is a positive step towards strengthening Kazakhstan's financial security.