Transforming the signs of legalizing (Laundering) of proceeds of crime in banking market

Abstract

The actual problem of legalization (laundering) of the proceeds of crime, which is becoming increasingly important in the current conditions of international tension, is investigated. The banking sector is the same component of the global financial system that is used as an acceptable tool for money laundering, which can be directed either at support of the activities of terrorist groups or in the future will be included in legal money circulation. The issue of combating money laundering and using the banking system to legalize "dirty" money is considered when it is an urgent problem for Ukraine, since "dirty" money laundering poses a serious threat to its economic, social and political growth. Systemic problems are identified: tax revenue reduction, expansion of the shadow economy, destabilization of the activities of banks and other financial intermediaries, which can lead to a banking crisis. The list of operations that are subject to internal financial monitoring in the bank is systematized. Approaches to the development of a system of measures are proposed that seek to find a solution to the problem of balancing economic efficiency for organizing financial monitoring of the activities of primary control bodies, which involves the creation of a transparent classification system based on high and low risk of money laundering.