Kazakhstan shuts down 24 financial pyramids affecting 327,000 citizensKazakh authorities have dismantled 24 financial pyramid schemes in a nationwide crackdown, recovering 20 billion tenge for victims and freezing millions in cryptocurrency assets, the Financial Monitoring Agency announced Tuesday.During a briefing with President Kassym-Jomart Tokayev, FMA Chairman Zhanat Elimanov reported the completion of 300 criminal investigations, with funds returned to defrauded citizens. "The agency also froze 2.2 billion tenge in cryptocurrency assets belonging to pyramid scheme organizers," FMA Chairman Zhanat Elimanov reported to President Kassym-Jomart Tokayev.The operation neutralized six organized crime groups, including one transnational network, while preventing 23 billion tenge ($50 million) in fraudulent infrastructure spending. Authorities simultaneously disrupted illegal export channels for timber, scrap metal, and gasoline, measures they said helped stabilize domestic markets.The operation specifically combated financial scams targeting citizens. "Investigators exposed a fraudulent microfinance network that scammed 327,000 borrowers out of 30 billion tenge and blocked 5,600 scam websites and shutting down 30 social media accounts that collectively reached over 22,000 potential victims," Elimanov said.Financial literacy programs have reached 567,000 schoolchildren across 2,800 institutions, plus 100,000 university students. Meanwhile, new anti-money laundering legislation submitted to parliament aims to bring Kazakhstan into full compliance with global Financial Action Task Force standards.President Tokayev praised the results but urged continued vigilance, calling for sustained efforts to reduce shadow economies, fight illicit asset flows and improve financial literacy. (ICE ALMATY)

Fonte notizia: INTERFAX