12.1.1. Sanctions systems and controls

A Relevant Person must establish and maintain effective systems and controls to ensure that on an on-going basis it is properly informed as to, and takes reasonable measures to comply with, relevant resolutions or sanctions issued by the UNSC or by the Republic of Kazakhstan.

A Relevant Person must comply with prohibitions from conducting transactions with designated persons and entities, in accordance with the obligations set out in the relevant resolutions or sanctions issued by the UNSC or by the Republic of Kazakhstan.

A Relevant Person must freeze without delay and without prior notice, the funds or other assets of designated persons and entities pursuant to relevant resolutions or sanctions issued by the UNSC or by the Republic of Kazakhstan.

12.1.2. Notification obligation

A Relevant Person must report to the FIU any assets frozen or actions taken in compliance with the prohibition requirements of the relevant resolutions or sanctions issued by the UNSC or by the Republic of Kazakhstan, including attempted transactions. A Relevant Person must immediately notify the AFSA when it becomes aware that it is:

1. (a) carrying on or about to carry on an activity;
2. (b) holding or about to hold money or other assets; or
3. (c) undertaking or about to undertake any other business whether or not arising from or in connection with (a) or (b), for or on behalf of a person, where such carrying on, holding or undertaking constitutes or may constitute a contravention of a relevant sanction or resolution issued by the UNSC or by the Republic of Kazakhstan.

12.1.3. Notification requirements

A Relevant Person must ensure that the notification stipulated in AML 12.1.2 above includes the following information:

1. (a) a description of the relevant activity in AML 12.1.2; and
2. (b) the action proposed to be taken or that has been taken by the Relevant Person regarding the matters specified in the notification.
3. 
   
4. Guidance on sanctions
5. (a) In AML 12.1.1 taking reasonable measures to comply with a resolution or sanction may mean that a Relevant Person cannot undertake a transaction for or on behalf of a person or that it may need to conduct further due diligence in respect of a person.
6. (b) Relevant resolutions or sanctions mentioned in AML 12.1.1 may, among other things, relate to money laundering or otherwise be relevant to the activities carried on by the Relevant Person.
7. (c) A Relevant Person should exercise due care to ensure that it does not provide services to, or otherwise conduct business with, a person engaged in money laundering.
8. (d) When making a notification to the AFSA in accordance with AML 12.1.2, a Relevant Person should have regard to the requirements of the AML Law in relation to freezing assets and blocking transactions and must also consider whether it is necessary to file a STR.
9. (e) An Authorised Market Institution should exercise due care to ensure that it does not facilitate fund raising activities or listings by persons engaged in money laundering.
10. (f) Relevant Persons must perform checks on an on-going basis against their customer databases and records for any names appearing in resolutions or sanctions issued by the UNSC as well as to monitor transactions accordingly.
11. (g) A Relevant Person may use a database maintained elsewhere for an up-to-date list of resolutions and sanctions, or to perform checks of customers or transactions against that list. For example, it may wish to use a database maintained by its head office or a Group member. However, the Relevant Person retains responsibility for ensuring that its systems and controls are effective to ensure compliance with these Rules.