59-1. Obligations in respect of payments and transactions

A Foundation must carry out its payments and transactions of the third parties through a banking and financial intermediary (a regulated financial institution) based in the AIFC jurisdiction, Republic of Kazakhstan, or in a jurisdiction that is a FATF member or an equivalent jurisdiction.

59-2. Notification obligations

(1) A Foundation must immediately notify the AFSA when it becomes aware of:

1. (a) complex or unusually large transactions, or an unusual pattern of transactions;
2. (b) transactions which have no apparent economic or legal purpose; and
3. (c) other activity which the Foundation regards as particularly likely by its nature to be related to money laundering or terrorist financing.

(2) A Foundation must inform the AFSA in writing as soon as possible if, in relation to its activities carried on as part of the AIFC or in relation to any of its branches or subsidiaries, it:

1. (a) receives a request for information from a regulator or agency responsible for anti-money laundering and counter terrorism financing, or sanctions compliance in connection with potential money laundering, terrorist financing, or sanctions breaches;
2. (b) becomes aware, or has reasonable grounds to believe, that a money laundering event has occurred or may have occurred in or through its business;
3. (c) becomes aware of any money laundering or sanctions matter in relation to the Foundation or its branch or subsidiary which could result in adverse reputational consequences to the Foundation; or
4. (d) becomes aware of a significant breach of the AIFC AML regulation framework or a breach of the relevant Kazakhstan legislation by the Foundation or any of its employees.

59-3. Reporting and record keeping

(1) A Foundation must report any information about customers, third parties, their transactions, identified risks of money laundering and terrorist financing and any suspicious activities on request of the AFSA and the FIU.

(2) The information must be filed i n the form and manner prescribed by the AFSA and the FIU and must contain the information required by the AFSA and the FIU.

(3) A Foundation must maintain the following records:

1. (a) the supporting documents (consisting of the original documents or certified copies) in respect of the customer business relationship, including transactions;
2. (b) suspicious activities and any relevant supporting documents and information, including intern al findings and analysis of money laundering and terrorist financing risks; any relevant communications with the FIU;
3. (c) for at least six years from the date on which the notification or report was made, the business relationship ends or the transaction is completed, whichever occurs last.