(9 February 2026 | Source: BES.media)
The Financial Monitoring Agency (FMA) is considering the introduction of administrative liability for participants of financial pyramids who recruit new people. The agency clarifies that this applies to cases where criminal prosecution is not undertaken.
WHY THE INITIATIVE IS IMPORTANT
According to information from the FMA, possible measures under consideration include administrative fines, confiscation of rewards and mechanisms for recovering unjust enrichment. Work on preparing proposals is being carried out jointly with other state bodies, according to the agency's response to a request from the portal BES.media.
Currently, liability mainly falls on the organisers of financial pyramids, while active participants who act as agents for recruiting new people often go unpunished. The new measures will help close this gap.
SCALE OF THE PROBLEM IN KAZAKHSTAN
President Kassym-Jomart Tokayev ordered strengthened measures against financial pyramids. According to the FMA, in 2025 the agency investigated 141 cases with total damages of 32.9 billion tenge. Earlier publications by the FRBC noted systemic instances of citizens being drawn into fraudulent schemes through networks of active participants.
WHAT WILL CHANGE FOR PYRAMID PARTICIPANTS
For participants of financial pyramids, the situation may change as follows: previously, liability mainly rested with the organisers of the schemes, while active recruiters who brought in new participants did not lose their bonuses.
The proposed measures extend liability to these active participants, introducing administrative liability for them, and also providing for the possibility of confiscating rewards and recovering unjust enrichment.
POSSIBLE CONSEQUENCES FOR SOCIETY
The proposed measures could reduce the number of new participants in financial pyramids by limiting the motivation to involve others in schemes with a high risk of financial loss.