Features of combating money laundering: international experience

Abstract

In today's globalized world, the problem of money laundering is becoming particularly urgent and requires consolidated international efforts to address it. A study of international experience in combating money laundering reveals the key role of international organizations in forming an effective system for countering this phenomenon. The United Nations has laid the fundamental legal basis through a system of conventions and resolutions, while the FATF has developed international standards and recommendations that have become the basis for national countermeasure systems. The OECD, which coordinates international efforts, and the Bank for International Settlements, which promotes the implementation of control mechanisms in the banking sector, also play an important role.

The experience of European countries demonstrates the effectiveness of an integrated approach to solving this problem. France has created a powerful financial intelligence system, Germany has introduced strict requirements for customer identification and monitoring of transactions, and Austria has developed effective mechanisms for interaction between the private and public sectors.

Based on international experience, several key areas for improving state policy are proposed for Ukraine. Among them: strengthening institutional capacity through the creation of a unified information system and advanced training of specialists; harmonization of legislation with international standards; development of international cooperation; improvement of interaction with the private sector and implementation of preventive measures. Particular attention is paid to the need to introduce a risk-based approach to the financial monitoring system and the development of mechanisms for rapid response to international requests.

The implementation of the proposed measures will contribute to increasing the efficiency of the Ukrainian system for combating money laundering and bringing it closer to leading international standards. This will allow creating more reliable barriers to criminal financial flows and strengthening Ukraine's position in the global system for combating money laundering.

It is important to note that the successful implementation of international experience requires a systematic approach and consistency of actions at all levels of public administration.

The results can be used to improve financial monitoring policy in Ukraine and bring it into line with FATF and OECD standards.