To all financial institutions and non-financial categories of persons (DNFBPs)

To all financial institutions and non-financial categories of persons (DNFBPs)

The State Financial Intelligence Service under the Government of the Kyrgyz Republic (hereinafter - the SFIS) reports that the Law of the Kyrgyz Republic "On Combating the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds" dated August 6, 2018 No. 87 (hereinafter - Law) has come into force.

In accordance with articles 23 to 26 of the Law, financial institutions and non-financial categories of persons should send the following types of reports on transactions (deals) to the SFIS:

1) a report on a suspicious transaction (deal);

2) a report on transactions (deals) with individuals or legal entities from high risk jurisdictions;

3) a report on transactions (deals) with individuals who have served a sentence for the legalization (laundering) of criminal proceeds, terrorist or extremist activities;

4) a report on transactions (deals) with cash and non-cash funds.

Nowadays, the work on the development of draft Decree of the Government of the Kyrgyz Republic "On measures to implement the Law of the Kyrgyz Republic "On Combating the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds" is under way.

In this regard, the financial institutions and non-financial categories of persons should submit to the SFIS the reports on transactions (deals) before the entry into force of the above-mentioned decision of the Government of the Kyrgyz Republic in the following order:

1) a report on a suspicious transaction (deal):

This message should be formed using the List of criteria (types) and the directory of codes of suspicious transactions (deals) approved by the order of the SFIS dated on January 23, 2017 No. 1 / npa.

A report on a suspicious transaction (deal) should be submitted to the SFIS within five hours from the date of recognition of the transaction (deal) as suspicious in the established manner.

Financial institutions and non-financial categories of persons should continue to apply the established procedure for recognizing the transaction (deals) as suspicious.

The notification of a suspicious transaction (deal), including an attempt to commit a suspicious transaction (deal), should be sent regardless of the amount of the transaction (deal) made or being performed.

2) a report on transactions (deals) with individuals or legal entities from high risk jurisdictions:

Financial institutions and non-financial categories of persons should submit this report to the SFIS, regardless of the amount of the transaction (deal) performed and within two working days from the date of the transaction (deal).

This report should be formed using the List of High-Risk Jurisdictions and the List of Criteria (types) and the Directory of Suspicious Transaction (Deal) Codes approved by the order of the SFIS dated on January 23, 2017 No. 1 / npa.

At the same time, a report on any transactions (deals) involving individuals or legal entities from high risk jurisdictions (natural or legal persons registered or operating in high risk jurisdictions) should be submitted.

3) a report on transactions (deals) with individuals who have served a sentence for the legalization (laundering) of criminal proceeds, terrorist or extremist activities:

This report should be formed using the List of individuals who have served a sentence for committing a terrorist and / or extremist crime, approved by the order of the SFIS dated on February 5, 2017 No. 6 / p.

At the same time, a report on any transactions (deals) involving individuals who have served a sentence for committing a terrorist and / or extremist crime should be submitted.

Financial institutions and non-financial categories of persons should submit this report to the SFIS within two business days from the date of transactions (deals).

4) a report on transactions (deals) with cash and non-cash funds:

Financial institutions and non-financial categories of persons do not report on transactions (deals) with cash before the approval by the Government of the Kyrgyz Republic of the List of transactions (deals) with cash and their threshold amount.

Financial institutions and non-financial categories of persons should provide information on transactions (deals) with non-cash funds by the request of the SFIS within ten business days from the date of receipt of the request.

At the same time, financial institutions and non-financial categories of persons should provide information on transactions (deals) with non-cash funds in electronic format and in the form established by the SFIS.

Financial institutions and non-financial categories of persons should continue to apply:

- Order of the SFIS dated on January 23, 2017 No. 1 / npa and software (ARM) for the formation of the report;

- Form 1 to fill the report;

- the channel used for submitting reports to the SFIS.

State Financial Intelligence Service under the Government of the Kyrgyz Republic