The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
What security rules must be followed during financial transactions?
When conducting financial operations, the following rules must be observed:
• Use the security features of your computer and mobile devices: antivirus protection, complex composite passwords; do not store personal data on your computer or mobile device in unprotected form;
• Do not publish personal data on the Internet: on forums, social networks, etc.;
• Do not trust calls from strangers claiming to be employees of government or financial organizations; do not disclose your personal data to them, especially your PIN code, CVV/CVC code (the three-digit number on the back of the card);
• Do not open emails received from unknown or suspicious addresses; do not click on links sent from dubious sources via email, social networks, or SMS;
• If you frequently make online purchases, it is advisable to open a separate card for online shopping (for example, a virtual card);
• Before making an online purchase, ensure that the website you are on actually belongs to the online store and that its address starts with https:// and not http://;
• Enable SMS or PUSH notifications for your payment cards;
• Never disable the 3D-Secure feature;
• Do not store PIN codes together with cards, and do not disclose them to anyone. Do not give your bank cards to third parties (including relatives), including for making payments in cafes and restaurants;
• Do not use public Wi-Fi access points to log into banking accounts;
• In case of card loss, immediately block it and suspend all transactions by calling the bank’s hotline; it is also advisable to visit the bank branch as soon as possible to block accounts.
What mistakes do borrowers most commonly make when taking out a mortgage?
The most common mistakes include underestimating one’s financial capabilities, focusing solely on the amount of the monthly payment without considering the total cost of the loan and the overall amount of interest paid, and overlooking additional expenses associated with purchasi...
What additional expenses, apart from the monthly payment, should be taken into account when purchasing a home with a mortgage?
When purchasing a home with a mortgage, it is important to consider not only the monthly loan payment but also additional expenses associated with acquiring and maintaining the property. These may include property appraisal costs, insurance, notarial and registration fees, taxes,...
Can a borrower lose their home due to a prolonged mortgage delinquency? What is the foreclosure procedure?
In the event of a prolonged failure to fulfill obligations under a mortgage loan, the legislation provides for the possibility of foreclosure on the mortgaged property. However, before such measures are taken, borrowers are provided with a number of tools to settle their debt. In...
What are the “gray” and “black” lists of droppers?
To combat dropper schemes, a centralized system for recording suspicious clients has been established. The system is operated by the Anti-Fraud Center of the National Bank, which receives information from banks, payment organizations, telecommunications operators, and law enforce...
What new requirements have been introduced for the remote issuance and reissuance of bank cards?
For the remote issuance and reissuance of bank cards, financial institutions are required to use two-factor authentication, including biometric identification. Bank cards may only be linked to Kazakhstan-registered mobile phone numbers, which reduces the risk of using foreign SIM...
What is “dropping” and what penalties are provided by law?
“Dropping” refers to the illegal provision, transfer, or use of access to a bank account, payment instrument, or identification tool, as well as the execution of unauthorized payments or money transfers, including on behalf of third parties, in exchange for financial compensation...
How has the regulator strengthened its oversight of collection agencies in recent years?
Since 2017, the Agency has pursued a regulatory policy aimed at strengthening oversight of collection activities, improving the functioning of the debt collection market, and reducing unfair collection practices. Since 2017, the following regulatory measures have been introduced:...
Does a debtor have the right to record a conversation with a collector?
Yes. Under subparagraph 7) of paragraph 1 of Article 16 of the Law on Collection Activities, a debtor and/or their representative has the right to independently record interactions with employees of a collection agency using audio and/or video recording equipment.
