A regular meeting of the Public Council of the Financial Monitoring Agency (FMA) took place today in Almaty. The event marked a significant step toward fostering deeper engagement between the Agency and the public, as well as addressing pressing issues related to financial security and the enforcement of law and order in this area.
During the meeting, FMA representatives provided an update on ongoing efforts to eliminate unproductive intermediaries in the market for socially significant goods. They presented an analytical system that automatically detects instances of price markups beyond the allowable limits on socially important goods based on electronic invoices.
This year alone, the Agency has submitted over 650 cases to regional commissions under local akimats, resulting in administrative penalties for 350 individuals. The same monitoring system also covers social state institutions, with more than 600 of these institutions revising state procurement contracts, leading to savings of over 350 million KZT in public funds.
A special project aimed at combating financial pyramids was also discussed. Using the analytical system, the FMA monitors the internet for content advertising fraudulent financial schemes. Once identified, the organizers are tracked down, and measures are taken to disrupt their activities. Since the beginning of the year, 28 financial pyramids have been dismantled, around 12,000 websites have been blocked, and nearly 300 social media chats and accounts associated with 25 "false financial" projects have been shut down. The "Baiqa Piramida" Telegram bot has handled over 9,000 public inquiries.
The meeting also featured reports from the FMA’s regional departments in Almaty, the Almaty Region, and the Zhetisu Region on efforts to combat the shadow economy in these areas.
FMA Chairman Zhanat Elimanov emphasized the importance of maintaining a constructive dialogue with the public to further enhance the Agency’s financial monitoring efforts. He noted that these initiatives not only contribute to the improvement of the legislative framework for economic security, as highlighted by Public Council members, but also play a critical role in shaping the public’s understanding of the importance of adhering to current legislation.
Council members offered a series of recommendations aimed at refining the price monitoring mechanism for socially significant goods and strengthening efforts to combat the activities of financial pyramids.
Alibek Abdilov
FMA Official