Kazakhstan's Crackdown on Shadow Economy Nets 12B Tenge, 130 Crypto-Exchanges
Kazakhstan's anti-shadow economy efforts have yielded significant results. Authorities have dismantled 18 underground workshops producing tobacco and alcohol, seized assets worth 12 billion tenge, and shut down 62 illegal casinos. Since the start of the year, 81 cash-out groups with a turnover of 24 billion tenge have been exposed, and the illegal export of oil products worth 17 billion tenge has been prevented. Additionally, 130 crypto-exchanges involved in money laundering schemes have been stopped, and unjustified expenses of over 242 billion tenge in the construction sector have been prevented.
The crackdown on the shadow economy has been relentless. The liquidation of 18 underground workshops producing tobacco and alcohol products is a major blow to the illicit industry. These workshops were operating covertly, but their activities have now been brought to light.
In a separate operation, assets worth 12 billion tenge have been removed from the shadow economy. This significant seizure is a testament to the authorities' commitment to tackling financial crimes. The closure of 62 underground casinos is another notable achievement, indicating a strong stance against gambling-related illicit activities.
The Anti-Financial Monitoring Agency (AFM) has played a crucial role in these efforts. It has prevented unjustified expenses of over 242 billion tenge in the construction sector, demonstrating its effectiveness in curbing financial mismanagement. Moreover, the AFM has helped prevent the illegal export of oil products worth 17 billion tenge, highlighting its role in protecting the country's economic interests.
The fight against money laundering has also been intense. A total of 130 crypto-exchanges involved in such schemes have been stopped, indicating a proactive approach to tackling financial crimes in the digital age. Additionally, 81 cash-out groups with a turnover of 24 billion tenge have been exposed, further demonstrating the authorities' success in uncovering and dismantling illicit financial networks.
The efforts to combat the shadow economy in Kazakhstan have been substantial and far-reaching. The liquidation of illicit workshops, seizure of assets, closure of illegal casinos, prevention of unjustified expenses, and disruption of money laundering schemes have all contributed to a cleaner and more transparent economic landscape. These achievements reflect the dedication and success of the authorities in their ongoing fight against financial crimes.
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