Since April 2020, the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market has been conducting systematic monitoring of the operational activities of financial and other organizations that interact with the population for the possibility of fraudulent and other illegal actions, Delovoy Kazakhstan reports.
In May 2021, the recommended measure of supervisory response was applied to JSC "Altyn Bank" for failure to indicate in the advertisement the number of the bank's license and the name of the body that issued the license.
In respect of "Pawnshop "Senimdi Irgetas" LLP, "Pawnshop "Astana Pawnshop-9", "Pawnshop "Pegasus Lux", MFO "CreditSun", MFO "myCar Finance", written instructions were drawn up based on the results of verification of contracts that did not meet the requirements of the legislation of the Republic of Kazakhstan.
The microfinance organization "Onlinekazfinance" was fined 145,850 tenge for unreliable indication of the annual effective remuneration rate.
This May Agency did not reveal any violations regarding subjects of securities and insurance market.
Sources of monitoring of advertising activities of financial organizations are:
- documents and information submitted by financial and other organizations to the Agency, including at the request of the Agency;
- requests, documents, and information received from individuals and legal entities, government agencies;
- websites of financial and other organizations;
- Instagram Facebook, Twitter, Instagram, VKontakte, Telegram, and other social networks;
- mobile applications of financial and other organizations;
- advertising on TV, radio channels, public transport, periodicals, as well as outdoor advertising.
The monitoring was carried out in the cities of Nur-Sultan, Almaty, Shymkent, and the regional centers of Kazakhstan.
