Financial Monitoring as the Key Element of the Mechanism for Ensuring Economic Security

Surnina K.S. and Denenberg Yu.M.

European Research Studies Journal, 2018, vol. XXI, issue Special 2, 567-575

Abstract: This article deals with the theoretical and legal fundamentals of forming the Russian system of financial monitoring and introduces the analysis of efficiency in the functioning of the Federal Financial Monitoring Service by separate dynamics. It also considers approaches to define indicators being threshold values by nature and which are lower than money transactions regarded as suspicious. It was proposed to establish a position of a commissioner for anti-money laundering. It was proved that, in accordance with the new procedures for assessing the effectiveness of national systems for combating money laundering and terrorist financing, it became necessary to train observers. Observers in their turn should conduct ongoing analysis and the preparation of a draft report on the changes with conclusions and recommendations.

Keywords: Russian system of financial monitoring; efficiency; suspicious transactions; thresholds; estimation procedures; recommendations; cash flows. (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxi:y:2018:i:special2:p:567-575

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