UDC 336.71
DOI: 10.51409/va2022.09.03.008

Authors

K. V. ZHELYABOVSKAYA,
Master’s student, Financial Institute under the Government of the Russian Federation, Moscow, Russia
Scientific supervisor:
L. K. BOTASHEVA,
PhD in Economics, Associate Professor of the Department of Economic Security and Risk Management, Financial University under the Government of the Russian Federation, Moscow, Russia

Abstract

The purpose of the work. The relevance of the research topic lies in the fact that with the development of technological capabilities, modified schemes of illegal acts appear, therefore it is very important to monitor legislative changes in banking activities and make timely adjustments to their work in order to minimize the penetration of «dirty» money into a particular bank. Today, money laundering remains a large-scale problem for credit and financial institutions, both for a separate jurisdiction and for the entire international settlement system. By penetrating the banking system, illegal income can have a negative impact on everything, including the economic and financial security of the state.
Materials and methods. The article deals with regulatory legal acts for the banking sector of the Russian Federation in the system of timely detection of illegal financial transactions. The Central Bank acts as the supervisory authority in this area. The reasons and factors of non-compliance with legislative acts by credit and financial institutions are investigated and summarized.
Results. The analysis of the number of credit institutions for 12 years on the territory of our country is also given and the details of administrative violations for 2009-2021 are presented.
Conclusion. As a result of the conducted research, it can be said that the four key elements of the preventive component of any anti-money laundering regime are: due diligence of clients, reporting, regulation, and supervision, as well as sanctions. The results of this study show that the Russian anti-money laundering system has undergone significant changes but is still far from being completed and is improving over time, and basically meets international requirements in the field of combating money laundering.

Keywords

anti-money laundering, efficiency of banking activities, credit organizations, FATF, illegal operations.