The regulator explains that this decision is aimed at combating money laundering and preventing financial crimes.
The responsibilities of exchange bureaus will include the following aspects:
- verifying clients' documents, including those of foreigners;
- determining the source of funds when necessary;
- paying special attention to atypical and large transactions;
- suspending suspicious transactions with notification to the National Bank of Kyrgyzstan;
- storing information about conducted exchanges for at least five years.
These changes will take effect on January 14.
