Financial Monitoring Agency prevents misuse of KZT30bn in livestock subsidies

During the meeting, Elimanov reported monitoring has exposed significant financial risks, including 30 billion tenge in inefficient livestock subsidies. Evidence suggests the misappropriation of over 10 billion tenge in research and commercialization grants. Furthermore, 14 investigations are underway into the facts of stealing from the Mandatory Social Health Insurance (MSHI), alongside 21 probes into 5.3 billion tenge of stolen construction funds.

In a major crackdown on fraud, 17 pyramid schemes were eliminated and a group using special equipment to send mass phishing SMS disguised as banks/telecoms was dismantled. Authorities further tightened security by shutting down 3,700 fraudulent websites and closing 22 group chats with over 25,000 participants. Additionally, the fraudulent acquisition of first-category construction licenses by over 400 nominal firms was prevented.

The chairman highlighted the fight against illicit finance, noting that 14 investigations into 'drop card' schemes have uncovered over 13 billion tenge in turnover and led to the blocking of 68,000 nominee bank cards.

Authorities have initiated 23 pre-trial investigations into the misuse of shell companies and forged documentation, resulting in damages exceeding 13 billion tenge. Additionally, the operations of three underground crypto-exchanges, involved in laundering funds from online casinos, financial pyramids, and fraudulent schemes, have been dismantled, while 483 illegal cryptocurrency exchange platforms have been blocked.

Following the meeting, the Head of State gave a number of tasks regarding the Agency’s key areas of activity.

Earlier, Qazinform reported the Head of State, Kassym-Jomart Tokayev, held a meeting with the governor of East Kazakhstan region, Nurymbet Saktaganov, focusing on the region’s socio-economic development and sustainable development.