Abstract:
Money Laundering (ML) is one of the most debatable issues nowadays since many
criminals are getting more devious and the methods used are more sophisticated. As a result,
ML has become a serious phenomenon that affects economical, social, and political aspects
globally. Before discussing the importance of the Anti-money Laundering Policy (AML), it is
reasonable to define ML and be aware of its definition. ML is an illegal process of making a
significant amount of money using businesses or different institutions coming from illegally
obtained money from drug trafficking or other serious criminal activities.
The main responsibility that AML has is investigating the possible reports of suspicious
money transactions from banks and to determine any money laundering activities. In
Kazakhstan, there are a considerable amount of actions are taken to lower its vulnerability to
money laundering. According to the Kazakh Financial Monitoring Committee, Kazakhstan has
been implementing Financial Action Task Force (FATF) standards to most of the transactions,
making the improvement in combating financial pyramids, support of terrorists, and any illegal
cash flow.
Research problems are to identify Anti-money laundering policies in the global world and
Kazakhstan in particular. By this, it is meant that examining the policies connected to AML,
their functions and impact on companies and countries as well as the risk assessment
procedures are revealed in the study
