Role of Banks in Prevention of Money Laundering

Sofia E. Kovalyova ()
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Sofia E. Kovalyova: State University of the Ministry of Finance of the Russia, Moscow, Russia

Finansovyj žhurnal — Financial Journal, 2012, issue 2, 141-150

Abstract: The publication reviews the origin and definition of «money laundering» as a term, as well as the reason for establishment of the national system for prevention of money laundering and financing of terrorism (PML/FT). Characteristics of the phases of development are given, role and place of the Bank of Russia and credit organizations in counteraction of such crime are defined within the framework of the dating-back of the PML/FT system development proposed by the author.

Keywords: prevention of money laundering; legalization of illegal income; financing of terrorism; PML/FT system of Russia (search for similar items in EconPapers)
JEL-codes: G20 G21 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:120216:p:141-150

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