Legal basis for the organization of the compliance system in the Republic of Kazakhstan

Abstract

This article is devoted to the substantiation of the compliance control, associated with the state system of financial monitoring.
The article aims to examine the national system for countering the legalization of illegally obtained incomes, and the place it occupies in compliance control systems aimed at countering the legalization of proceeds from crime; To consider the system of motivation of financial organizations for the formation of compliance controls.
As practice of large international companies shows, compliance-control confidently takes the leading position as an effective tool for minimizing operational and compliance risks. Also, managers and business owners come to the understanding that the task of corporate compliance is to monitor compliance of companies and employees with legislative and ethical standards in the sphere of combating corruption, fraud and money laundering. In this regard, it becomes evident that domestic companies need to apply the world's leading compliance practices in internal rules and procedures.
This article is designed to summarize the practical experience of implementing corporate governance, compliance and risk management, and their integration.  In addition, it illustrates the latest methodological developments and the most advanced and effective
practices in the field of corporate governance, compliance functions and risk management, to learn
the opinions of leading experts on further ways of developing and integrating these disciplines into the
practice of Kazakhstan business.
Key words: compliance, compliance control, financial monitoring, bank.