scholarly journals Structure of International AML System and It's Development

2021 ◽  
pp. 113-129
Author(s):  
Nataliia Iurevna Taniushcheva
Keyword(s):  
Public Relations ◽  
Research Methods ◽  
Money Laundering ◽  
Financial Sector ◽  
Financial Organization ◽  
Financial Products ◽  
The World ◽  
Financing Of Terrorism ◽  
Effective Development ◽  
Global Financial System

The profound transformations in the financial sector carried out within the framework of the fight against money laundering and the financing of terrorism have affected all countries of the world, every bank, every financial organization. Approaches to assessing the prospects of new financial products have changed, mechanisms have appeared to restrict access to the global financial system not only for the largest banks, but also for entire countries. Taking into account the scale of transformations and the depth of their impact not only on finance, but also on the economy and public relations in general, it is necessary to determine the directions in which financial science could become a benchmark for effective development. The paper substantiates the development of research methods for assessing the scale of money laundering.

scholarly journals DEVELOPMENT OF UNIFIED PROCEDURES FOR FINANCIAL INSTITUTIONS IN ORDER TO PREVENT MONEY LAUNDERING AND TERRORISM FINANCING

2019 ◽  
Vol 2 (87) ◽  
pp. 141
Author(s):  
Suzanna Kalinina
Keyword(s):  
Risk Management ◽  
Public Relations ◽  
Money Laundering ◽  
Financial Institutions ◽  
Financial Institution ◽  
Legal Regulation ◽  
Graphical Analysis ◽  
Terrorism Financing ◽  
Financing Of Terrorism ◽  
Financial Monitoring

The relevance of the topic is confirmed by the changes taking place in the financial monitoring system: the expansion of the financial monitoring range of procedures complication´s supervisory bodies aimed at countering money laundering and financing of terrorism, the creation of specialized international and European requirements, which causes changes in the legal regulation of public relations in this area, both at the level of the Estonian Republic, and at international level. Taking into account these changes, financial institutions are a subject to significant legal risks. The purpose of this topic is to improve the financial institution risk management system, in the field of anti-money laundering and countering financing of terrorism. The theoretical and methodological basis of the study are the provisions and conclusions regarding anti-money laundering and countering financing of terrorism risk management issues contained in the research works of different Estonian and Russian authors; as well as the author analysed anti money laundering and counter terrorism financing legal acts and revealed the main recommendations to financial institutions for preventing money laundering and terrorism financing.  The author analyses reasons, which affect licenses withdrawal due to breach of money laundering. The nature of the tasks and the system approach to their solution determined the use of the following research methods in the research: analysis and synthesis, grouping and classification, scientific generalization, expert assessments and graphical analysis.

scholarly journals Luxembourg

2017 ◽  
Vol 17 (255) ◽  
Author(s):  
Keyword(s):  
Money Laundering ◽  
Financial Sector ◽  
Risk Profile ◽  
Technical Note ◽  
Assessment Program ◽  
Beneficial Ownership ◽  
Financing Of Terrorism ◽  
Made In

This Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program (FSAP) Update for Luxembourg in the area of anti–money laundering and combating the financing of terrorism (AML/CFT). Since the last FSAP update, important steps have been taken to strengthen the AML/CFT regime. Luxembourg’s risk profile appears to be evolving as a result of the authorities’ push for increased tax transparency. Transparency of the beneficial ownership of legal persons has also improved. AML/CFT supervision has been strengthened in recent years, but challenges remain, including with respect to lawyers.

scholarly journals Winning the War of the World

2014 ◽  
Vol 9 (1) ◽  
Author(s):  
John McMurtry
Keyword(s):  
Public Relations ◽  
Tax Evasion ◽  
Food System ◽  
Rapid Decline ◽  
Contagious Diseases ◽  
The World ◽  
The Rich ◽  
Large Animals ◽  
Global Financial System ◽  
Global Food

The global corporate experiment has failed. Existence on earth is in rapid decline on every level of life organization. The air, soil and water cumulatively degrade and disappear; the climates and oceans destabilize without connection; species become extinct at a spasm rate across continents; pollution cycles and volumes rise endangering life systems on all planes in synergistic despoliation; the world’s forests, meadows and fisheries are cumulatively destroyed by the profit drivers of globalization; food pollinators, songbirds, coral reefs and large animals crash in unconnected response; public sectors and services are defunded and privatized as tax evasion by the rich multiplies; the global food system produces more and more disabling junk and wastes; non-contagious diseases multiply to the world’s biggest killer; the global financial system issues money out of control while collapsing in productive investment; the vocational future of the next generations is erased across the world; official lies and corruption are normalized as public relations. All the trends are one-way, degenerate, and undeniable.

Anti-Money Laundering and Combating the Financing of Terrorism - Observations from the Work Program and Implications Going Forward

Policy Papers ◽  
2005 ◽  
Vol 2005 (63) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Money Laundering ◽  
Work Program ◽  
The World Bank ◽  
The World ◽  
Work Programs ◽  
Financing Of Terrorism ◽  
The Imf

This paper provides a summary of the IMF and the World Bank work programs on anti-money laundering and combating the financing of terrorism following the Fund and Bank Boards' decisions in March 2004 to endorse the revised FATF standard (2003 version) and methodology for the purposes of preparing ROSCs and to expand the areas of Bank/Fund responsibility to cover the revised FATF standard comprehensively. It draws lessons on what has worked well and the challenges and discusses the work program going forward.

scholarly journals Use of Blockchain in the Banking System

2018 ◽  
Vol 3 (2) ◽  
pp. 576
Author(s):  
Stas T.A.
Keyword(s):  
Money Laundering ◽  
New Technologies ◽  
Banking System ◽  
Blockchain Technology ◽  
The World ◽  
Financing Of Terrorism

To date, blockchain technology is relevant in all areas and the banking system is not an exception. New technologies, such as blockchain technology should be introduced in the modern banking system, since they provide control over cryptocurrency that will help in counteracting money-laundering and financing of terrorism in the country and around the world. This article considers existing and new options of applying technology in practice and the problem of blockchain. Keywords: blockchain technology, cryptocurrency, micro-payments, a distributed registry.

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