Improvement of regulatory and legal support of financial monitoring in Ukraine

Abstract

In the publication according to the results of the analysis of the main international and national regulations of financial monitoring on the basis of the historical approach the directions of improvement of normative – legal maintenance in the field of prevention and counteraction to legalization of illegal incomes in Ukraine are outlined. The peculiarities of the main historical stages of the formation of the financial intelligence unit in Ukraine – the national center for analysis of information on suspicious transactions and other information on money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction are discloses. The issues of implementation of the provisions of international normative acts regulating the sphere of counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction at the international level are highlighted, in particular, the standards developed by the Financial Action Task Force on Money Laundering (FATF) and the Directives of the European Parliament and the Council of the EU, United Nations documents, international conventions ratified by Ukraine. Considerable attention is paid to the need for further harmonization of national and international legislation in the field of financial monitoring. It is proposed to take into account the conceptual principles of behavioral economics when improving the regulatory and legal support of financial monitoring (bylaws), in particular regarding the application of risk-oriented approach when analyzing and identifying suspicious financial transactions and identifying the ultimate beneficial owner of the client. The necessity of scientific research in the researched field in the traditional professional directions: “Money, finance and credit” and “Administrative law and process; finance law; information law”, and in related scientific specialties: “Economics and management of the national economy” (in the field of “Economic security of the national economy”), and “Accounting, analysis and audit (by type of economic activity)” (in the areas of “Organization of auditing: the specifics of formation and the functioning of audit services”, and “Accounting and analytical operations, their standardization and unification”) is substantiated.

Accounting and financial monitoring: science and education nowadays

“…Положення Директиви (ЄС) 2015/849 та Регламенту (ЄС) № 2015/847 великою мірою набули втілення в Законі України "Про запобігання та протидію легалізації (відмиванню) доходів, одержаних злочинним шляхом, фінансуванню тероризму та фінансуванню розповсюдження зброї масового знищення" № 361-IX від 06.12.2019 [15] (далі -Закон № 361-IX), котрий базується на рекомендаціях FATF. Варто зауважити, що й у нормотворчій, і у практичній площині в Україні робиться багато [16], проте імплементацію актів ЄС не завершено. Тож не закінченим є формування системи фінансового моніторингу в країні.…”