Kazakhstan joins int'l center for assessing money laundering, terrorism financing risks

ASTANA. Oct 28 (Interfax) - Kazakh President Kassym-Jomart Tokayev has signed into law a bill ratifying the agreement establishing the International Center for Risk Assessment of the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism (ICRA), the Kazakh presidential press service said on Tuesday.

The ICRA is an international information system for organizing interaction between financial intelligence units of the member states of the Commonwealth of Independent States for timely response to identified threats.

The ICRA is intended to explore trends and methods used by criminals, including new technologies. The ICRA will enable the CIS countries to analyze cross-border threats, share statistical information, and develop recommendations for reducing risks.

The center will pursue an important objective to look into the activities of cross-border criminal groups, including the transit movement of funds.