Banks and crypto exchanges must tighten monitoring of cross-border transfers in 2026-2028

Commercial banks and virtual asset service providers in Kyrgyzstan must introduce enhanced monitoring of cross-border transactions from the fourth quarter of 2026 through 2028. Prime Minister Adylbek Kasymaliev issued the instruction in Cabinet of Ministers Resolution No. 653 of September 29.

According to the roadmap, the expected result of stronger controls is a reduction in compliance violations that foreign correspondent banks identify during cross-border payments. Internal control programmes will be updated at all commercial banks and virtual asset service providers. Staff must be trained to work with foreign public officials and to identify beneficial owners of complex transnational structures, including foreign trusts.

The Cabinet named the National Bank, the Financial Supervision Service, the National Agency for Virtual Assets, the Financial Intelligence Service, commercial banks (by agreement), crypto exchangers and crypto exchanges as implementing bodies. The same resolution approved the State Strategy on countering the financing of criminal activity and the laundering of criminal proceeds for 2026–2030.