Mechanism for preventing and counteracting legalization (laundering) of proceeds from crime in the financial security system of the banking system

The subject of the study is the mechanism of prevention and counteraction to legalization
(laundering) of proceeds from crime in the financial security system of the banking system.
The purpose of the paper is to determine the main provisions for improving the methodological
and regulatory organizational aspects of financial monitoring.
Research methods. The dialectical method of scientific cognition, the method of analysis and
synthesis, the comparative method, the method of data generalization are used in the work.
Results of work. The paper outlines two categories on which the system of prevention and
counteraction to legalization (laundering) of proceeds from crime is based. Three main systems of
organization of financial control are defined. The directions of the state policy of counteraction to
money laundering in Ukraine are considered.
Conclusions. One of the most relevant global financial problems in recent years is the growing number
of cases of banks participating in the process of money laundering. This causes huge losses to credit
institutions, undermines the confidence of bona fide depositors, in addition, the circulation of such funds
harms the economy. Given the urgency of this problem, the main aspects of improving the methodological
and regulatory organizational aspects of financial monitoring are considered. The main issues that need
to be addressed are: the formation of methodological principles in the field of money laundering in relation
to the detection and avoidance of operational risk; improving the system of identification and study of
clients conducting financial transactions; in respect of which there is a motivated suspicion.