Financial monitoring of individuals' funds transfer

I. Krestovsky
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I. Krestovsky: Moscow University of Industry and Finance

Journal of Modern Competition, 2009, issue 1, 27-33

Abstract: Today financial and loan institutions are examining the ways to address the problem of laundering the proceeds from crime. By laundering the proceeds from crime it is understood the processing of the funds or other property or property titles proceeding from crime to make them appear respectable. The crime proceeds laundering can be done through any bank transactions made by both legal entities and natural persons. The money transfers made by natural persons are not excluded from the chain here. The problem is the proceeds from drug trade, illegal gun trade, trafficking in people or racketeering can be laundered via the use of a bank transfer system. The article's goal is to examine the characteristics of operations made by the monitoring organizations to monitor the operations of banks and non-bank organizations that render fund transfer services to natural persons.

Date: 2009
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