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Kazakhstan has introduced a 12-month validity limit for payment cards issued to non-residents, according to a decision by the Agency for Regulation and Development of the Financial Market. The regulation, adopted on December 31, 2024, has already been published.
«The validity period of payment cards issued to clients who are non-residents of the Republic of Kazakhstan shall not exceed 12 calendar months, except for cards issued to business entities, diplomatic workers, and investors,» the document states.
In response to an inquiry from Kursiv, the agency clarified that the new rules do not apply to currently active payment cards.
The agency aims to minimize risks associated with the misuse of banking services for money laundering, drug trafficking, and illegal digital asset operations.
Under the new rules, banks will flag customers as potentially high-risk for money laundering or terrorism financing if they hold more than five cards from a single bank (down from the previous threshold of 10). Additionally, clients with three or more cards from three or more banks will face additional scrutiny. Exceptions include supplementary cards issued for children and credit cards specifically for loans.
Banks are also required to verify documents that justify a non-resident’s presence in Kazakhstan, such as work contracts, study agreements, or residence permits. Citizens of Eurasian Economic Union (EAEU) member states are exempt from these requirements.
The Financial Monitoring Agency of Kazakhstan reported earlier in January that crimes involving the laundering of criminal proceeds through bank cards amounted to 24 billion tenge ($45 million) in 2024. Around 6,200 «drop cards» (bank cards issued under fictitious names) were used in schemes linked to drug trafficking, cyber fraud, illegal gambling, and other crimes.
«Over 90% of the owners of such cards were non-residents,» the agency noted. Information on these individuals has been shared with law enforcement agencies in other countries.
