Bank's Defense in Poor Kazakhstan loans Case Labeled as Inability to Provide Solid Evidence by Prosecutor

Banks Identified as Victims in Proclaimed Incident, Advises Regulatory Authority

, and Administrator

2025 September 15 . 7:33 AM

2 min read

Bank's Defense in Loans to Impoverished Kazakhstanis: Prosecutor labels arguments as bankrupt

Bank's Defense in Poor Kazakhstan loans Case Labeled as Inability to Provide Solid Evidence by Prosecutor

In a significant development, the Akmola Region prosecutor's office has announced an investigation into an organized criminal group suspected of human trafficking, fraud, and money laundering. The group, comprising individuals from various regions of Kazakhstan, is believed to have infiltrated the ranks of four major Kazakh banks.

The investigation, which commenced on September 2, has seen the Akmola Region prosecutors compile a presentation detailing the involvement of bank employees in the activities of the organized criminal group. This presentation has been sent to the central apparatus of the ARFRR for further action.

The banks under scrutiny include Deutsche Bank, Commerzbank, HypoVereinsbank (UniCredit Bank), and DZ Bank. The prosecutors allege that at least one employee from each of these banks is implicated in the criminal activities.

However, the Association of Kazakhstan's Financiers has stated that the banks had not received official notifications that their former or current employees were suspects in the criminal case. The banks, as victims in the case, have been recognized as participants in the criminal process and have a representative with all the rights associated with this status. This includes access to case materials at all stages of the pre-trial investigation.

The regional prosecutor's office asserts that claims by banks that they lacked knowledge about the ongoing criminal investigation are unfounded. The case materials are accessible to the banks, and they have been kept informed throughout the investigation.

Despite these claims, the banks maintain that they were not aware of the ongoing investigation. The Akmola Region prosecutor's office, however, stands firm in its belief that the banks had sufficient knowledge about the investigation.

The investigation is being conducted by the Akmola Region prosecutor's office, and the presentation sent by them to the central apparatus of the ARFRR includes specific case materials. The central apparatus of the ARFRR is the authorized body receiving the presentation from the Akmola Region prosecutors.

As the investigation progresses, more details are expected to emerge about the activities of the organized criminal group and the role of the bank employees implicated in the case. The prosecutors are working diligently to bring those responsible to justice and protect the financial system of Kazakhstan from such criminal activities.