Banks as Subjects of the National Payment System: Contemporary Issues

Svetlana V. Krivoruchko () and Valery A. Lopatin ()
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Svetlana V. Krivoruchko: Institute of Financial and Economic Research, Financial University under the Government of the Russian Federation
Valery A. Lopatin: Institute of Financial and Economic Research, Financial University under the Government of the Russian Federation

Finansovyj žhurnal — Financial Journal, 2016, issue 2, 111-117

Abstract: The article considers the issues of smooth rendering of payment services and rapid growth of operational risks and money laundering and terrorism financing risks resulting from wide utilization of electronic means of payment as well as the problem of reducing the bank and non-bank credit institutions share market resulting from expansion of the alternative payment service systems using “money substitutes”. The ways to solve problems are proposed by the authors as well.

Keywords: smooth rendering of payment services; operational risk; money laundering and terrorism financing risk; electronic means of payment; bank and non-bank credit institutions; money substitutes (search for similar items in EconPapers)
JEL-codes: G18 G21 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:160210:p:111-117

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