Freedom Finance Bank
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265 m
9 reviews
December 25, 2023
. Violations of 2012-2023 by Freedom Holding Corp. and its subsidiaries
Freedom Holding Corp., the parent company of Freedom Bank, was involved in a number of violations between 2012 and 2023. Here are some of the most serious violations:
Violations in the internal control system for countering the legalization of proceeds from crime and the financing of terrorism
In 2012, the National Bank of Kazakhstan conducted an audit of the activities of Freedom Holding Corp. During the audit, violations were revealed in the internal control system for countering the legalization of proceeds from crime and the financing of terrorism. In particular, facts of non-compliance with the requirements for customer identification and verification of their reliability were discovered.
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www.timetoast.com
National Bank of Kazakhstan
Sale of fake shares
In 2022, a criminal case was opened in Kazakhstan against Freedom Finance Europe. The company was accused of selling fake shares of Freedom Finance Europe to investors. During the investigation, it was found that the shares of this company were not registered in accordance with the requirements of Kazakh legislation.
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evropakipr.com
Freedom Finance Europe
Misuse of customer funds
In 2023, the National Bank of Kazakhstan imposed a fine on Freedom Bank in the amount of 500 million tenge. The fine was imposed for the misuse of customer funds. In particular, it was found that the bank used customer funds to finance its own operations.
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mtrk.kz
National Bank of Kazakhstan
These violations resulted in serious reputational and financial losses for Freedom Holding Corp. The company was forced to restructure its business and reduce staff in order to restore the trust of customers and investors.
Currently, Freedom Holding Corp. It is under the close attention of law enforcement agencies. It is likely that in the future specific violations will be charged against specific employees or divisions of the company.
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2
May 13, 2023
Such a disgusting attitude towards foreign clients, I approached the consultant girl and asked about the issue of the card, the girl just started telling me a local Kazakh client comes in, she didn't even tell me, she defiantly walked away to him and started a dialogue with him on product consultation, don't be surprised at this attitude.
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5
1
August 28, 2023
Lottery, getting a card just won't work, everything happens online, who is considering it is not clear, in the office only the serving girls do not solve problems.
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3