scholarly journals Modern indicators of financial crimes detection and their prevention in Ukraine

2021 ◽  
Vol 10 (44) ◽  
pp. 61-72
Author(s):  
Sergey V. Slinko ◽  
Pylyp S. Yepryntsev ◽  
Artem O. Shapar ◽  
Dmytro B. Sanakoiev ◽  
Alina H. Harkusha
Keyword(s):  
International Cooperation ◽  
Financial Institutions ◽  
Technological Development ◽  
Financial Crime ◽  
Law Enforcement Agencies ◽  
Systematic Analysis ◽  
Low Level ◽  
Financial Crimes ◽  
International Payment ◽  
Financial Transactions

The increase in the level of financial crime is caused by the technological development, weak moni-toring of financial institutions, low level of international cooperation in terms of combating these types of crimes. The paper aims to develop effective ways to combat financial crimes in Ukraine. With the help of a systematic analysis of financial crime modern indicators, theoretical sources, prac-tical measures and international experience, the main indicators of financial crimes are identified. Such indicators are the use of false documents and other people's accounts, international payment systems; frequent and complex financial transactions of a confusing nature; unusual for a client amounts and counterparties of the transaction; incomplete or missing payment information. The study has found that the increase in the level of financial crime is influenced by the presence of off-shore zones, the low level of liability for the crime, the reluctance of financial institutions to interact with law enforcement agencies in regard to combating such crimes. It is possible to increase the level of financial crime counteraction by conducting an external audit and investigation of financial crimes, establishing international cooperation to combat such crimes, blocking suspicious financial transactions, taking preventive measures and combating related crimes.

scholarly journals INSTITUTIONS OF CIVIL SOCIETY AS SUBJECTS OF FIGHT AGAINST FINANCIAL CRIMES

2020 ◽  
pp. 109-117
Author(s):  
Oleksandra Vasylchyshyn ◽  
Olena Sydorovych
Keyword(s):  
Civil Society ◽  
Money Laundering ◽  
The State ◽  
Financial Crime ◽  
Resource Potential ◽  
Established Procedure ◽  
Financial Crimes ◽  
Financial Monitoring ◽  
Monitoring Service ◽  
Financial Transactions

The article considers the legislative rights of civil society institutions to interact with the state. The influence of financial crimes on the functioning and development of the state, as well as the possibility of the influence of civil society institutions on the detection and detection of financial crimes has been studied. The activity of the State Financial Monitoring Service on detection and processing of information of risky financial transactions and its cooperation with foreign divisions of financial investigations is described. The most popular countries in which there are entities with a suspicious reputation for financial transactions are identified. It is emphasized that the human and resource potential of civil society institutions will contribute to the detection of money laundering operations. It is also determined that the legalization of criminal proceeds is a financial crime that encroaches on the established procedure for conducting financial transactions, and hence on the interests of the state.

Moving in the right direction to fight financial crime: prevention and detection

2018 ◽  
Vol 25 (2) ◽  
pp. 362-368
Author(s):  
Fitriya Fauzi ◽  
Kenneth Szulczyk ◽  
Abdul Basyith
Keyword(s):  
Literature Review ◽  
Money Laundering ◽  
Financial Institutions ◽  
Design Methodology ◽  
Asia Pacific ◽  
Financial Crime ◽  
Content Type ◽  
Financial Crimes ◽  
The Right ◽  
Financial Intelligence

Purpose The purpose of this paper is to identify current measures taken for financial crime’s prevention and detection in the context of Indonesia. Design/methodology/approach This study is based on data from articles in Indonesian newspapers relating to the current financial crimes, current measures of preventing financial crimes in Indonesia and based on the literature review. Findings There are some attempts to combat financial crimes in Indonesia, both internally and externally. The attempts that have been made for the internal scope are the enactment of anti-money laundering law, the new monitoring system of financial institutions and the formation of a superintendent institution. The attempts that have been made for the external scope are the agreement between Indonesia’ financial intelligence unit Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), and other countries’s financial intelligence unit, the affiliation member of the Asia/Pacific Group on Money Laundering (APG) to combat financial crimes through strengthening its anti-money laundering and terror financing capabilities. Originality/value This paper presents an overview of current prevention and detection measures in the context of Indonesia, and it is hoped that this paper will contribute to the current discussion of eliminating financial crimes.

scholarly journals International Law Enforcement Cooperation against Money Laundering

2020 ◽  
Vol 37 (65) ◽  
pp. 217-229
Author(s):  
Alina V. Steblianko ◽  
Tamara O. Chernadchuk ◽  
Ivan O. Kravchenko ◽  
Nadiia S. Andriichenko ◽  
Oksana S. Rudanetska
Keyword(s):  
Law Enforcement ◽  
International Cooperation ◽  
Money Laundering ◽  
Financial Institutions ◽  
National Level ◽  
Law Enforcement Agencies ◽  
Initial Stage ◽  
Legislative Proposals ◽  
Logical Method ◽  
The Law

The purpose of the article is to focus on the need to strengthen the interaction of the law enforcement agencies of various states, highlighting the role of financial institutions in this process, to find optimal ways to improve international cooperation. The study is based on the methods of systemic and critical analysis, as well as a formal logical method. The article confirms that the need to strengthen international cooperation is explained by the existence of certain factors that determine the possibility of money laundering. It has been established that without adequate cooperation between law enforcement agencies and financial institutions at the national level, it is quite difficult to detect crime and prevent money laundering at the initial stage. As a conclusion of the investigation, it is proposed to develop a methodology for the interaction of the law enforcement agencies of several states to counteract money laundering. The results obtained can also become the basis for developing legislative proposals to improve international cooperation in law enforcement and, at the same time, they can be used to increase the efficiency of their anti-money laundering activities.

Governing Proliferation Finance

2019 ◽  
Author(s):  
Grégoire Mallard
Keyword(s):  
United Nations ◽  
Financial Institutions ◽  
Security Council ◽  
United Nations Security Council ◽  
Nuclear Nonproliferation ◽  
Global Regulation ◽  
Nuclear Program ◽  
Global System ◽  
Financial Transactions

As the critical sanctions against Iran’s nuclear program demonstrate, the implementation of sanctions against nuclear proliferators has led to the creation of a global system of surveillance of the financial dealings of all states, banks, and individuals, fostered by United Nations Security Council resolutions—a new and unprecedented development. This chapter asks: Which actors have been in charge of designing and implementing sanctions against nuclear proliferators? Which legal technologies have they developed to regulate global financial transactions? Answering these questions generates a better understanding of key processes in global governance: the increasing role of the Security Council as a global legislator; the “financialization” of global regulation, with the increasing role played by international and US domestic financial institutions that were historically foreign to the field of nuclear nonproliferation; and the judicialization of the enforcement of sanctions, which is accompanied by the multiplication of secondary sanctions against sanctions-evaders.

scholarly journals Combating economic and financial crimes in nigeria: the role of the forensic accountant

2020 ◽  
Vol 10 (4) ◽  
pp. 12-28
Author(s):  
Felix Ogbeiyulu Umanhonlen ◽  
Otakefe J.P ◽  
Killian Osikhenaogiedu
Keyword(s):  
Internal Control ◽  
Expert Witness ◽  
Future Research ◽  
Financial Crime ◽  
Public And Private ◽  
Forensic Accounting ◽  
Financial Crimes ◽  
Routine Basis ◽  
Expert’S Opinion

Economic and financial crime has been a clog in the wheel of progressand a majorproblem be devil economic prosperity and growth modelsof most nations of the world. Due to this government in some quarters have had the reason to set upinstitutions to unravel as well asdispels themenace. Despite this,fewer than much success mayhave been achieved by the respective anti-corruption agencies as a result of not identifying with therole of forensic accounting science in planning, investigating and representing expert witness/testimony on be fore law suit. This paper attempts toappraisethe role of forensic accountant in combating economic and financial crimes in Nigeria. The paper explored relevance components of economic and financial crimes and extensively discussed concepts of crime and criminality, corruption, white collar and cybercrimes. Specifically, the study reviews the historical antidotes of forensic accounting, emphasizes on the role of forensic accounting science in litigation and forensic accountantensuring economic and financial crime immersed. Moreso, the study identifies basis for future research, some potential crimes factors and forensic accounting science expert’s opinion in crime scene as well as reviewed prior studies and gap envisaged. Essentially, the study reviewed theoretical issues using qualitative approach thereby involving a survey of literature to decipher relevant issues. It there fore sought that forensic accounting serves the basis for investigation, expert witness testimonyand opinion of expert in lawsuit so as to unravel crimes, and reach resolution for recovering. However, concludes that there is need to involve and embrace accounting expert science in all facets of crime investigation in order to accelerate detections and ameliorate incidences of failed attempt on crime recovery related to economic and financial crimes. Therefore, propose that public and private sectors should engage, recruit and employservices of and/or stationed forensic accountant to review,strengthen, reappraises records and internal control on routine basis. Also to check incidences of crime perception as well as anti-corruption agencies saddled with the responsibilities of fighting economic and financial crimes to employ and adopt engagement of forensic accountant on regular basis among others for all-inclusiveness works of planning, investigating, detecting,and recovering.

scholarly journals CHARACTERISTICS OF THE PERSON OF THE CRIMINAL COMMITTING CRIMINAL OFFENSES IN THE FIELD OF ECONOMIC ACTIVITY

2020 ◽  
pp. 40-49
Author(s):  
В. В. Мойсеєнко
Keyword(s):  
Economic Activity ◽  
Criminal Activity ◽  
Law Enforcement Agencies ◽  
Security Guards ◽  
Official Position ◽  
Criminal Offenses ◽  
Special Knowledge ◽  
Technical Functions ◽  
Criminal Groups ◽  
Financial Transactions

The article systematizes persons who commit criminal offenses in the sphere of economic activity, namely: persons with experience in various spheres of economic activity (as a rule, they are organizers, create criminal groups, distribute responsibilities among their participants, dispose of funds received) ; persons who, abusing their official position, commit legally significant actions or provide public services that are important for the preparation, commission and concealment of criminal offenses (notaries, appraisers, auditors, bank employees); employees (officials) of the sphere of economic activity (accountants, managers, secretaries, security guards), who perform certain technical functions, not directly participating in the criminal scheme; specialists who are involved in the use of special knowledge in the field of psychology, financial transactions, organization of mass events, as well as for the purpose of falsification of documents, interference in the work of computer networks; officials of local authorities, control and law enforcement agencies, which provide corrupt cover for criminal activity.

scholarly journals Contemporary forms and methods of counteracting narcotization of the youth

2020 ◽  
Vol 9 (28) ◽  
pp. 377-385
Author(s):  
Anatoliy Trokhymovych Komziuk ◽  
Ruslan Semenovych Orlovskyi ◽  
Bohdan Mykhailovich Orlovskyi ◽  
Taisa Vasylivna Rodionova
Keyword(s):  
Law Enforcement ◽  
Developed Countries ◽  
Law Enforcement Agencies ◽  
Lower Efficiency ◽  
Systematic Analysis ◽  
Legal Method ◽  
The Developed Countries ◽  
Definition Of ◽  
Major Factors ◽  
Preventive Methods

The purpose of the paper is to examine the most efficient forms and methods of counteracting narcotization in society, especially of the youth, and also to characterize the most important factors of the proliferation of narcotization. The authors used the following methods in the research: dialectical, dogmatic, method of systematic analysis and comparative-legal method. The paper analyses forms and methods of counteracting narcotization of the youth in Ukraine and worldwide. It elaborates the definition of the following terms: “narcotization”, “counteracting narcotization”, “forms of counteracting narcotization” and “methods of counteracting narcotization”. It ascertains that emerging and proliferation of narcotization has a direct correlation with the complex of social factors, each one of them obtained a specific characteristic. Besides analyzing the major factors of emergence and proliferation of narcotization of the youth, the paper gives particular attention to defining forms, methods and means of counteracting this socially harmful phenomenon. The paper studies positive experience in regard to activities of law enforcement agencies of the developed countries in the sphere of counteracting narcotization, including narcotization of the youth. It emphasizes that coercive methods of reducing narcotization have much lower efficiency compared to preventive methods that are generally more humane and economically efficient. The paper formulates the conclusion about the necessity of ongoing engagement of the community in counteracting narcotization of society, especially of the youth.

Criminal minds: profiling architects of financial crimes

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shazeeda Ali
Keyword(s):  
Design Methodology ◽  
Comprehensive Analysis ◽  
Psychological Disorder ◽  
Financial Crime ◽  
Health Issues ◽  
Content Type ◽  
Psychological Attributes ◽  
Financial Crimes ◽  
Reduction Strategies ◽  
Risk Reduction Strategies

Purpose The purpose of this paper is to construct a profile of a financial criminal, with special emphasis on their psychological attributes. The objective is to determine if such a profile can provide a valuable tool for detecting perpetrators of financial crime and for implementing risk-reduction strategies. Design/methodology/approach The approach involved a review of various personality disorders and other mental health issues, as well as an analysis of a number of cases involving serious financial crime, to ascertain whether the behaviour of the perpetrators was consistent with certain psychological challenges. In addition, the study examined various motivators for the commission of the financial crime. Findings The research revealed some key commonalities among the perpetrators of financial crime and that their behaviour was often consistent with that of a person afflicted with a personality or other psychological disorder. Originality/value The study provides a comprehensive analysis of various personality and other psychological challenges afflicting a number of offenders involved in financial crime. It also provides some critical findings that could be valuable for those charged with establishing measures to prevent and detect financial crime.

Blockchain Technology

2021 ◽  
pp. 215-247
Author(s):  
Somayya Madakam ◽  
Harshita
Keyword(s):  
Financial Institutions ◽  
Credit Card ◽  
Third Party ◽  
Research Articles ◽  
Ongoing Research ◽  
Scientific Databases ◽  
Blockchain Technology ◽  
Innovative Solution ◽  
Youtube Videos ◽  
Financial Transactions

Currently, the financial transactions between individuals, organizations, and companies are taking place with the help of third-party approval of intermediaries such as banks, financial institutions, standardizing bodies, or credit card providers. These transactions involve multilevel approvals, costs, and inefficient processes in some cases, which also lead to waste of time and resources. To resolve these issues, blockchain technology has appeared as a new financial digital innovative solution. Here, financial transactions are online, open, and transparent. In this chapter, the authors present systematic literature of relevant research on blockchain technology. The objective is to understand the historical evolutions, current ongoing research, base technologies, and applications. The authors have extracted research articles from scientific databases including EBSCO, Scopus, Web of Science, and Google Scholar. The online blogs, wikis, media articles, YouTube videos, and companies' white papers on blockchain technology are also used for content analysis.

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