Foundation of elements of a bank’s system for prevention and counteraction of the money laundering

Abstract

It is substantiated that the main components of the system of preventing and counteracting the legalization of doubtful incomes of the bank's clients are three interrelated components: prevention, risk management and counteraction to money laundering. The money laundering prevention system should include identification and verification of clients, customer study and clarification of information about them, analysis of financial transactions, disclosure and registration of financial transactions subject to financial monitoring, maintenance of a register of financial transactions, and notification to the specially authorized body.