Kazakhstan ratifies convention on confiscation of crime proceeds

ASTANA, May 1 (Itar-Tass) -- Kazakhstan has ratified the Convention on
Laundering, Search, Seizure and Confiscation of the Proceeds from Crime.
The law was signed by President Nursultan Nazarbayev on Saturday.
"Kazakhstan's joining to the convention will allow law enforcement
authorities to cooperate with competent authorities of participating
states to detect, seize and confiscate proceeds from criminal activities,"
notes the conclusion to the document, which was previously approved by the
Kazakh parliament. Such work "will create additional possibilities to
establish control over suspicious transactions and payments, ensure
transparency of financial flows, enhance the efficiency of the fight
against corruption and economic crimes, as well as reduce the level of
shadow economy."
This convention was adopted in Strasbourg on November 8, 1990. By the
present, more than 48 countries have joined it.