In the Aktobe Region, the investigation into a case of illegal entrepreneurial activity in the pawnbroking sector has been completed. According to the investigation, a man from 2020 to 2025 issued loans secured by equipment without the required licence. The criminal case has been sent to court.
HOW THE SCHEME WORKED
The investigation was conducted by the department of the Agency for Financial Monitoring (AFM) for the Aktobe Region.
According to the investigation, the suspect organised a system of issuing loans to the public secured by property: mobile phones, televisions, gaming consoles, cameras and other equipment. The activity was carried out under the guise of commission shops, which allowed it to circumvent regulation by the authorised bodies.
WHAT INTEREST RATES WERE CHARGED TO CUSTOMERS
The investigation claims that inflated rates were applied to the loans — up to 3.7% per day, which is 12 times higher than the established limit of 0.3%.
One of the episodes cited in the case materials concerns a loan of 257,000 tenge for a period of 10 days. Under the commission agreement, the client paid 51,400 tenge in fees at a rate of 2% per day, whereas at the maximum rate the amount should not have exceeded 7,710 tenge.
WHAT MEASURES HAVE BEEN TAKEN
According to the AFM, with court approval, three cars and the suspect’s apartment have been seized. A preventive measure in the form of a written undertaking not to leave the place of residence and to behave properly has been imposed on him.
Further legal assessment of the materials will be provided by the court. Other information is not disclosed in accordance with Article 201 of the Code of Criminal Procedure of the Republic of Kazakhstan.
WHY THIS MATTERS
Pawnbroking activities in Kazakhstan are subject to mandatory state regulation. Having a licence means that an organisation operates within the established legal framework and must comply with restrictions on loan conditions.
The AFM also reminded that turning to illegal financial structures carries the risk of losing property and funds.