Construction of a System of Risk-Based Control in the Field of Combating the Laundering of Illegal Proceeds on the Basis of an Assessment of Significant Risks

Auditor ◽  
2018 ◽  
Vol 4 (5) ◽  
pp. 44-48
Author(s):  
А. Максутова ◽  
A. Maksutova
Keyword(s):  
Money Laundering ◽  
National Level ◽  
International Experience

In the article the author analyzes the international experience of application of FATF recommendations in the sphere of combating money laundering. Th e objectives of the risk-based approach at the national level are defi ned and the methodology for assessing the risk of laundering illicit proceeds is proposed.

scholarly journals MONEY LAUNDERING RISK ASSESSMENT REGARDING THE ACCOUNTING PROFESSION

2021 ◽  
Author(s):  
Tajana Petrović ◽  
◽  
Sonja Cindori ◽  
Keyword(s):  
Money Laundering ◽  
National Level ◽  
Financial Statements ◽  
Risk Assessments ◽  
Legal Regulations ◽  
A Posteriori ◽  
Accounting Profession ◽  
Creative Accounting ◽  
The Republic ◽  
Illegal Activities

The assessment of money laundering and terrorist financing risks is conducted at the supranational and national level, including risk factors and risk variables. Based on the mentioned, the accounting profession is required to provide risk assessments at the level of obliged entities, which results in suspicious transactions reports. The number of suspicious transactions reported in the Republic of Croatia, as well in the world, is notably small, which speaks in favor of insufficient awareness of the threats posed by such conduct. The susceptibility of the accounting profession to illegal actions through the possibility of adjusting financial statements within the framework of creative accounting is evident, while due to non-compliance with legal regulations, unprofessionalism, and unethical needs, there is a need for forensic accounting. The peculiarities of the accounting profession support its ambiguous role in the detection of money laundering and other illegal activities, however, such measures are always implemented a posteriori.

scholarly journals UPAYA PUSAT PELAPORAN DAN ANALISIS TRANSAKSI KEUANGAN DALAM PENANGGULANGAN TINDAK PIDANA PENCUCIAN UANG

FIAT JUSTISIA ◽  
2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Eko Raharjo
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
National Level ◽  
International Community ◽  
Legal Issues ◽  
The Public ◽  
Financial Transaction ◽  
Criminal Offenses ◽  
Black List ◽  
The Republic

The issue of crime not only from the public spotlight in the local and national level, but also a serious concern of the international community. One crime that is now often used as a discussion by scholars of law, economics and banking apparatus of government and law enforcement are on the money laundering crime (money laundering), especially with the notion that the Republic of Indonesia is "heaven" for these practices criminal offenses or the crime of money laundering. The legal issues increasingly into the spotlight with the inclusion of the Republic of Indonesia in the black list or black list. Keywords: Center for Financial Transaction Reporting and Analysis, Money Laundering

scholarly journals How Results are Created: Methodological Approaches to the Design of Educational Outcomes

2020 ◽  
Vol 12 (2) ◽  
pp. 3-23
Author(s):  
K.A. Barannikov ◽  
I.M. Remorenko
Keyword(s):  
Educational Outcomes ◽  
National Level ◽  
International Experience ◽  
Educational Standards ◽  
Outcome Based Education ◽  
The World ◽  
Methodological Approaches ◽  
New Education

The authors make retrospective analyze of "outcome-based education" and “competence-based education” concepts evolution. National educational standards and curricula all around the world have gone through dramatic transformation over the last 20 years. New education models require new methodology for designing educational outcomes. In the paper, based on the analysis of international experience, a framework for designing outcomes is proposed. Authors analyze Canada, UK, Finland, Australia, USA experience. Also terminology of meta-subject and subject outcomes are discusses in the paper. The framework presented by the authors is applicable both for school and teacher curricula, and at the national level, when formulating standards or example currucula.

Anti-money laundering – the need for intelligence

2017 ◽  
Vol 24 (3) ◽  
pp. 472-479 ◽  
Author(s):  
Richard John Lowe
Keyword(s):  
Money Laundering ◽  
Organized Crime ◽  
Financial Services ◽  
National Level ◽  
Financial Sector ◽  
International Standards ◽  
Policy Makers ◽  
Content Type ◽  
The Military ◽  
The Impact

Purpose The purpose of this paper is to highlight the need for predictive intelligence to support anti-money laundering programs in the financial sector. Design/methodology/approach The methodology adopted herein consists of a literature review on the use of intelligence in anti-money laundering, the sources of intelligence and information used in the financial sector, supported by experience gained from investigating and prosecuting money laundering cases, and the assistance provided to financial services companies. Findings Banks and other regulated services are required to meet international standards to deny services to criminals and terrorists, identify suspicious activity and report to the authorities. Regulated businesses have large operations which check customers against sources that confirm their identity or against lists of proscribed or suspected offenders at an individual or national level. Their controls tend to look backwards when other organisations that rely on intelligence, such as the military, value predictive, forward-looking intelligence. The penalties that banks and others face for failure in their controls are increasingly severe, as looking backwards and not forwards reduces the extent to which the controls meet their purpose of reducing the impact of organized crime and terrorism. Originality/value This paper serves as a useful guide to alert and educate anti-money laundering professionals, law enforcement and policy makers of the importance of predictive intelligence in countering organized crime and terrorism. It also considers whether lessons in intelligence handling from other areas can inform a debate on how intelligence can be developed to counter money laundering.

scholarly journals Новите мерки за превенция на изпирането на пари

2020 ◽  
pp. 106-117
Keyword(s):  
Money Laundering ◽  
National Level ◽  
Legal Framework ◽  
Major Elements ◽  
Prevention Measures ◽  
Council Of Europe ◽  
Effective Prevention ◽  
Wide Range ◽  
Periodic Changes

New Measures for the Prevention of Money Laundering Money laundering poses serious threats to international and national security. The past three decades have been marked by intense efforts to combat the crime. Prevention measures that engage a wide range of reporting entities have become increasingly important in this re-spect. The need for more effective prevention of money laundering has led to periodic changes in the regulatory framework. The article focuses on the latest measures for money laundering prevention that were introduced with the adoption of two new directives by the European Parliament and the Council of Europe in 2015 and 2018 respectively, as well as an entirely new legal framework introduced in Bulgaria in 2018 and its follow-up amendments at the end of 2019. The article analyzes various aspects of the crime and the evolution of the counteracting approaches, highlighting major elements of the most recent measures for the prevention of money laundering on a European level and a national level.

scholarly journals THE IMPACT OF THE AGREEMENT ON THE AUTOMATIC EXCHANGE OF FINANCIAL INFORMATION ONTO THE RUSSIAN SYSTEM OF COMBATING MONEY LOUNDERING

2017 ◽  
pp. 83-88
Author(s):  
Stanislav Aleksandrovich Grinyakin
Keyword(s):  
Money Laundering ◽  
Information Exchange ◽  
National Level ◽  
Recent Decade ◽  
Financial Information ◽  
Automatic Information ◽  
Financial Investments ◽  
Financial Transactions ◽  
The Impact ◽  
Working Out

Today, in the context of crisis, many managers of large corporations seek to protect their financial investments by their legalization and further withdrawal into the offshore zone. In the recent decade in many countries the problems of combating economic crimes related to money laundering are solved at the national level. The article highlights the need to improve legislation and strengthen activities in this direction.The authors consider different possible schemes of money laundering, participating of credit and financial institutions in such schemes being a unifying factor. Lack of governmental controls over legality of financial transactions, absence of precise criteria resulted in working out the Multilateral agreement of Organization for Economic Co-operation and Development (OECD) on cooperation between the competent authorities on the problems of automatic information exchange, which is the part of OECD Standard about automatic exchange of financial information. Adoption of OESD Standard by Russia leads to increased complexity and insecurity of operations of certain credit and financial organizations, but will make the procedure of provision of account information more transparent eliminating possibility to dodge taxes by money laundering for businesses.

scholarly journals MODERN CRYPTOECONOMICS: INTERNATIONAL LEGAL REGULATION

2018 ◽  
pp. 135-142
Author(s):  
Antonina D. Levashenko ◽  
Ivan S. Ermokhin
Keyword(s):  
Money Laundering ◽  
Legal Regulation ◽  
International Experience ◽  
Tax Base ◽  
Public Interests ◽  
Terrorist Financing ◽  
The Us ◽  
Crypto Currency ◽  
The World ◽  
The Eu

Due to increasing interest around the world about crypto-currency there is a growing need among authorities for understanding the approaches to regulate the new phenomenon. Analysis of international experience in the regulation of crypto-currencies and other cryptoactive assets shows that regulators are now trying to reduce the risks associated with the violation of public interests - the risks of erosion of the tax base and money laundering and terrorist financing. The article provides information on the approaches of the EU, the US and other OECD countries to the regulation of crypto-currencies and other crypto assets, as well as possible proposals for regulators in Russia. 

Money Laundering Prevention: International Experience of Cooperation between Law Enforcement Agencies and Financial Institutions

2021 ◽  
Vol 39 (9) ◽  
Author(s):  
Oleg M. Reznik ◽  
Nadiia S. Andriichenko ◽  
Viktor Ya. Konopelskyi ◽  
Zhanna V. Zavalna ◽  
Tetiana Y. Myronenko
Keyword(s):  
Law Enforcement ◽  
Money Laundering ◽  
Financial Institutions ◽  
International Experience ◽  
Law Enforcement Agencies ◽  
Foreign Experience ◽  
Methods Of Analysis ◽  
Legislative Proposals ◽  
Logical Method

The urgency of the problems described in the articles is due to the need to improve cooperation between law enforcement agencies and financial institutions in the field of combating excellent money in Ukraine. The purpose of the study is to study the foreign experience of cooperation between law enforcement agencies and financial institutions in the field of combating money laundering and establishing opportunities for its use in Ukraine. The research is based on the methods of analysis and generalization and the formal-logical method. The obtained results can be based on legislative proposals to improve the interaction of these entities, which, at their discretion, allow for interaction at a new level.

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