financial monitoring
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2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mykhailo Dumchikov ◽  
Oleg Reznik ◽  
Olha Bondarenko

Purpose The purpose of this paper is to define and characterize peculiarities of countering the legalization of criminal income with the help of virtual assets. Design/methodology/approach The analysis of the legislative delineation and the realities of the practical implementation of the features of combating the legalization of criminal proceeds with the help of virtual assets in Ukraine was carried out with the help of general scientific methods of cognition. The systematic method helped identify the main ways to legalize criminal proceeds with the help of virtual assets. Using legal techniques, proposals will be formulated to amend draft legislation on legislative regulation of the concept of “virtual assets”. The generalization method was used to develop ways to combat the legalization of criminal proceeds with the help of virtual assets. The method of legal forecasting was used to substantiate the proposed areas of combating money laundering with the help of virtual assets. The method of extrapolation will be used to determine the possibility of implementing foreign experience in domestic practice to combat money laundering with the help of virtual assets. Findings One of the relatively new and increasingly popular ways of money laundering is to commit this act with the help of virtual assets. Methods of money laundering through virtual assets include services for the conversion of virtual assets, P2P exchange, gambling sites, virtual asset mixers and the use of fictitious internet sites selling digital goods. The difficulty of counteracting the legalization of criminal proceeds with the help of virtual assets is primarily due to the lack of legislative regulation of the concept of “virtual assets” in Ukraine. Yes, the draft law is currently being finalized. Besides, even the current edition is not evaluated by the authors as perfect. After all, the issue of the content of the concept of “virtual assets” and its relationship with virtual securities, cryptocurrency and virtual property remains unresolved. Originality/value One of the relatively new and increasingly popular ways of money laundering is to commit this act with the help of virtual assets. Methods of money laundering through virtual assets include services for the conversion of virtual assets, P2P exchange, gambling sites, virtual asset mixers and the use of fictitious internet sites selling digital goods. It is essential to intensify financial monitoring by financial control bodies over the activities of conversion service centers. Moreover, given the transnational nature of legalizing criminal proceeds, especially those committed through virtual assets, international cooperation in combating this crime is vital. The authors have proposed specific measures to ensure that a coherent consolidation of efforts can be built.


2021 ◽  
Vol 2021 (4) ◽  
pp. 70-81
Author(s):  
Vladimir Terekhin ◽  
Konstantin Frolov ◽  
V. Yargutova

Restrictive measures related to the coronavirus pandemic have contributed to the spread of new types of crimes committed using «high» technologies in Russia. The risks of the spread of the criminal situation are aggravated against the background of the spread of coronavirus infection. The most important factor in countering high-tech crime is the work of Rosfinmonitoring, which is targeted at identifying suspicious financial transactions. This article presents the results of a study of the activities of Rosfinmonitoring in the direction of countering the legalization (laundering) of proceeds from crime using «high» technologies. The authors set a goal to formulate the problems and possible options for overcoming them in the context of the activities of Rosfinmonitoring with the designation of further prospects for improving its activities. The primary task is to set up the mechanism of interaction of Rosfinmonitoring with law enforcement agencies engaged in criminal prosecution. The conclusion is made about the urgent need to achieve certainty in the issue of accounting for cryptocurrencies, the limits of their use in the economic sphere. The results of the study can be useful for employees of financial control bodies, law enforcement agencies.


2021 ◽  
Vol 2021 (4) ◽  
pp. 94-105
Author(s):  
Оlena ABESINOVA ◽  

Author(s):  
O. V. Boltinova

The article examines budgetary activities and budgetary policy in the digital economy and shows the importance of the principle of transparency, openness of the budget as a factor in the development of digitalization in budgetary activities. Several ways of development of the information sphere of public finance management are analyzed. It is emphasized that the “electronic budget” is aimed at ensuring transparency, openness and accountability of the activities of state bodies and government bodies. The role of the subsystems of the “electronic budget” is shown, in particular the management of expenditures of the electronic budget, where reserve funds are of great importance. The importance of financial monitoring as an instrument of control over the effective use of federal budget funds is noted. 


2021 ◽  
Vol 1 (91) ◽  
pp. 16-22
Author(s):  
Suzanna Kalinina

The relevance of the topic is confirmed by the changes taking place in the financial monitoring system: the complication of procedures aimed at countering money laundering and financing of terrorism, the creation of specialized international and European requirements and the changes of requirements for compliance specialists. Financial institutions more often face the incompetence the incompetence of these employees and their negligence. The author analysed anti money laundering and counter financing of terrorism legal acts, as well as revealed the main recommendations to financial institutions for preventing money laundering and terrorism financing. Based on scientific research, the main risk factors for using financial institutions for money laundering were identified. Based on these risks factors, the author identified the role and importance of a compliance officer in order to prevent the legalization (laundering) of criminally acquired funds and the financing of terrorism.


2021 ◽  
pp. 50-54
Author(s):  
Е.И. Кузнецова ◽  
И.В. Филатова

На основании проведенного анализа существующих определений «мониторинг» и «финансовый мониторинг» авторы делают вывод, что финансовый мониторинг необходимо рассматривать в качестве способа систематического наблюдения и анализа за движением денежных потоков. Данный инструмент позволяет как фиксировать и анализировать уже совершенные негативные явления в финансовой сфере, так и выявлять и диагностировать нарушения, которые могут появиться в будущем. Based on the analysis of the existing definitions of «monitoring» and «financial monitoring», the authors conclude that financial monitoring should be considered as a method of systematic monitoring and analysis of the «movement» of cash flows. This tool allows you to record and analyze both already committed negative phenomena in the financial sphere, and to identify and diagnose violations that may probably appear in the future.


2021 ◽  
Vol 11/3 (-) ◽  
pp. 5-7
Author(s):  
Svitlana ACHKASOVA

Introduction. The implementation of a risk-oriented approach is an important issue for implementation in various fields. The purpose of the paper is to assess the impact of the risk-oriented system of funded pension provision on the socio-economic security of the state. The method of analysis of T. Saati's hierarchies was used to assess the impact of the instruments of the risk-oriented system of accumulative pension provision on the socio-economic security of the state. Results. The highest priority is given to 3 instruments: use of tools for identification and formation of risk profile of accumulative pension entities – 1st place (0,295), introduction of internal risk management system for funded pension entities in the field of funded pension provision – 2nd place (0,278); establishment of general requirements to the performance indicators of the subjects of accumulative pension provision, in particular financial monitoring – 3rd place (0,166). Conclusion. Scenarios for the development of socio-economic security of the state are modeled. It is determined that the scenario of accelerated development is more probable in assessing the impact of instruments for implementing a risk-oriented system of funded pension provision, in particular: use of tools for identification and formation of a risk profile of the activities of the subjects of the accumulative pension provision; use the criteria of risk-oriented composition of investment areas of pension assets in the field of funded pension provision; use of FINTECH, REGTECH in the field of funded pension provision; use of financial mediation in the field of funded pension provision; establishment of general requirements to the performance indicators of the subjects of funded pension provision, in particular financial monitoring; introduction of an internal risk management system for the activities of the subjects of the funded pension provision in the sphere of the funded pension provision.


2021 ◽  
Vol 5 (S4) ◽  
Author(s):  
Hanna Komarnytska ◽  
Natalya Malyuga ◽  
Olena Androsova ◽  
Liudmyla Vovk ◽  
Nataliya Smolinska ◽  
...  

As practice shows, one of the modern, effective methods for analyzing various data is visualization. It is currently widely used in solving problems of analyzing initial data in multiple fields of human activity ? scientific research, design work, financial monitoring, etc. However, the human brain is designed so that the graphical display allows one to perceive and understand some features of quantitative data, and some quantitative tasks can be best performed. The article reveals a set of tasks for managing financial projects and the resulting visual methods of analytics. The application of a systematic approach to the management of financial projects and the solution to the visualization of complex data analytics problems is considered. A diagram of the implementation of the stages of data visualization for analysis by specialists and project management is presented. It is proposed to use modern tools for computer data processing and visualization using cross-sectional data, detailing and structuring large amounts of data. The importance of modern analytical software is noted, which allows visualizing financial analytics using various models or combining them in the shortest possible time.


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