Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan holds Risk Management Case Competition 2025 on machine-learning anti-fraud models

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, together with Kazakhstan-British Technical University and with support from First Credit Bureau LLC, held the second “Risk Management Case Competition 2025” for university students and master’s students, focused on developing machine-learning anti-fraud models. The competition drew 81 teams from 21 universities, including inter-university teams involving participants from Kazakhstan, Uzbekistan, England and Australia, and required solutions covering data analysis, algorithm optimisation and high model accuracy in real-world use cases. Deputy Chair Timur Abilkassymov highlighted the importance of selecting effective machine-learning techniques for fraud detection and ensuring model interpretability so system decisions can be understood and explained. The agency also noted it actively uses machine-learning algorithms in banking supervision, including for assessing the creditworthiness of corporate and retail borrowers and for analysing economic linkages and their impact on banking-system stability. Blue Ocean from Maqsut Narikbayev University (MNU) won first place, second place went to RiscOps (International Information Technology University and KBTU) and RiscMasters (KBTU), and BIG4 (students from MNU, AITU and NU) placed third; winners received grants to take the FRM Part I exam and opportunities for professional placements at second-tier banks.