Russian police are reportedly investigating individuals who hold Kazakh bank cards, following reports that remote applications for these cards spiked after Visa and Mastercard exited Russia over the 2022 Ukraine invasion.
The surge in applications for Kazakh bank cards is linked to the withdrawal of international payment processors Visa and Mastercard, which severed ties with Russian financial institutions in response to the 2022 invasion of Ukraine. This has left many Russians seeking alternative payment methods, leading to increased demand for domestic banking services, including Kazakh bank cards.
Despite the growing interest in Kazakh bank cards, Russian authorities are reportedly scrutinizing cardholders to ensure compliance with financial regulations and prevent potential illicit activities. The situation highlights the broader implications of international sanctions on Russia’s financial infrastructure and the shift toward domestic alternatives.