The Almaty Department of the Financial Monitoring Agency has completed an investigation into the management of Labour Resources Development Center JSC (CRTR) and First Credit Bureau LLP (FCB). They are suspected of abuse of office and bribery.
CRTR is the sole state operator of information on individuals’ income. These data are provided to credit bureaus and used by banks and other financial institutions to assess borrowers’ solvency. Access to this information is crucial for the functioning of the lending market.
According to the investigation, in 2020 the former president of CRTR entered into an unlawful agreement with the CEO of FCB. As a result, FCB’s remuneration share increased from 30% to 35%, while CRTR’s revenue share decreased from 70% to 65%.
In addition, FCB was given priority in processing requests through a special service. At the same time, malware was installed on data exchange channels between CRTR and the State Credit Bureau, artificially slowing down the processing of requests. This gave FCB a competitive advantage.
According to the Financial Monitoring Agency, the state suffered damage exceeding KZT 2 billion. The suspects have been detained, and the court has seized their movable and immovable property, as well as securities worth more than KZT 1 billion. The criminal case materials have now been provided to the parties for review.
Source: Financial Monitoring Agency of the Republic of Kazakhstan
https://www.gov.kz/memleket/entities/afm/press/news/details/1187243?lang=en
