Illegally withdrawn assets valued at $824.4 million were successfully reclaimed by Kazakhstan authorities in the year 2024.
Kazakhstan made significant strides in 2024 in its ongoing campaign to combat corruption, repatriate stolen wealth, and improve the well-being of its citizens.
The year began with the continuation of the asset recovery efforts initiated in 2023. President Kassym-Jomart Tokayev's signing of a law in July 2023 aimed at repatriating illegally acquired assets to the state set the stage for these efforts. The law focused on returning assets, addressing the root causes of corruption, and restoring social justice.
To operationalize this, the Returned Asset Management Company and the Asset Recovery Committee under the Prosecutor General were established in September 2023 and October 2023, respectively. These institutions are responsible for accepting, preserving, and selling recovered assets, as well as overseeing and coordinating the recovery efforts.
By mid-2025, these initiatives led to over US$2.3 billion in recovered assets, marking a significant success in Kazakhstan’s effort to curb corruption and repatriate stolen wealth.
In 2024, Kazakhstan also made progress in other areas. For instance, 4.6 billion tenge (approximately US$8.8 million) in alimony was collected for 23,000 children, a step towards ensuring the constitutional rights of 3.5 million citizens were protected.
The country also intensified work on the extradition of persons abroad, with 67 people returning to Kazakhstan in the previous year. Incidents of torture in Kazakhstan were reduced by 54%, from 424 to 194 cases.
Kazakhstan strengthened international cooperation on crime prevention and asset recovery by signing nine treaties with Morocco, Peru, Qatar, and Cyprus in 2024. This move is expected to further bolster the country's efforts in the fight against corruption.
In addition, Kazakhstan recovered 428.7 billion tenge (US$824.4 million) in assets illegally withdrawn in 2024. This recovery was facilitated by the introduction of judicial proceedings to recover unexplained assets, which secured $10 million through court decisions.
Moreover, 15 social and investment projects worth more than 48 billion tenge ($92.3 million) were launched under agreements with the law's subjects. These projects aim to further improve the lives of Kazakhstan's citizens.
Support was also provided to 565 investors, whose combined contribution to the economy reached ten trillion tenge ($19.2 billion). This investment is expected to drive economic growth and development in Kazakhstan.
In conclusion, 2024 was a year of continued progress for Kazakhstan in its fight against corruption and efforts to improve the well-being of its citizens. The country's asset recovery campaign, spearheaded by the Returned Asset Management Company and the Asset Recovery Committee, continues to bear fruit, with over US$2.3 billion recovered by mid-2025. Additionally, initiatives in other areas, such as child support, extradition, and international cooperation, have shown promising results. As Kazakhstan continues to implement these strategies, it is poised to make further strides in the years to come.
The asset recovery campaign in Kazakhstan, which gained momentum in 2024, is not confined to the finance industry alone. Politics and general news have widely covered the country's efforts to repatriate stolen wealth, as President Kassym-Jomart Tokayev's measures have attracted global attention. In the realm of business, the Returned Asset Management Company and the Asset Recovery Committee have played crucial roles in accepting, preserving, and selling recovered assets. Furthermore, the ongoing struggle against corruption has extended its reach to the crime-and-justice sector, with the introduction of judicial proceedings to recover unexplained assets.
