The agency has published a list of unlicensed companies in Kazakhstan

Since 2020, the Agency has received more than 40 complaints and appeals regarding the activities of unlicensed companies that attract clients ' money for investment purposes, allegedly with a guarantee of high profitability.

Such companies are most often registered in offshore zones and do not have a license from the financial regulator to operate in the financial market. They offer clients advice and provide training on investing funds through their services. In the territory of the Republic of Kazakhstan, these companies mainly work remotely, through representative offices and branches or representatives by proxy.

The scheme of operation of these organizations assumes that the client is provided with remote access to closed Internet services and trading platforms, ostensibly for transactions with foreign currency and other financial instruments. In their account on such platforms, customers can observe an "increase" in their funds. When the client tries to withdraw the" earned "income, these companies avoid returning the client's money, demanding additional remuneration for the refund, or some reason unreasonably "reset" the client's accounts, which also bears the signs of fraudulent actions.

It is worth noting that such companies aggressively advertise their services mainly through social networks, promising high profitability, several times higher than the current interest rates on bank deposits.

In this regard, the Agency encourages citizens of the Republic of Kazakhstan not to succumb to aggressive advertising and recommends working with companies that have a clear and transparent legal regime.

The list of brokerage/dealer organizations that have licenses of the authorized body to engage in activities on the securities market of the Republic of Kazakhstan is published on the official website of the Agency.

The activities of these companies are strictly regulated by the legislation of the Republic of Kazakhstan. The ARDFM monitors and supervises the activities of the players and ensures an appropriate level of protection of the rights of consumers of these companies ' services and their legitimate interests.

To prevent the risks of citizens associated with the activities of unlicensed companies, the Agency published a list and addresses of the Internet sites of companies that received complaints from citizens. The Agency also recommends you to read the alerts and warnings of the International Organization of Securities Commissions (IOSCO) when entering into contractual relations with organizations that position themselves as "investment companies".

It is also important to remember that trading in financial instruments involves various market, credit, and currency risks. In this regard, we recommend that investors make investments through licensed Kazakh companies.