Involvement of credit organizations in the illegal scheme legalization of proceeds

Author(s):  Gladkova S.B., candidate of Sciences, associate Professor, St. Petersburg University of the Ministry of Internal Affairs of the Russian Federation, Sankt-Peterburg, Russia,

Issue:  Volume 46, № 2

Rubric:  Public and business finance

Annotation:  The basic methods of legalization of proceeds from crime, the process of involving credit institutions in the criminal scheme. Relevance of the research topic is no doubt as to the conditions of political and socio-economic challenges of anti-money laundering issues are central to the effective implementation and ensuring the country's security. The article presents the traditional schemes of money laundering used by criminal organizations, as well as the basic methods and tools to identify the possible use of these schemes. Based on the analysis of foreign and domestic practices, measures are proposed to optimize the procedures for interaction of control bodies with credit organizations to identify criminal proceeds, as well as the need to form a banking culture as the primary condition for the development of a full-fledged AML / CFT system. In the conclusion of article conclusions were drawn that it is necessary to develop bank culture which has to support execution of the strategy of growth that promoted all aspects of decision-making, ethical behavior in banks, tendency of involvement of credit institution in process of money laundering.

Keywords:  banking system, banking culture, commercial bank, legalization, offshore, criminal schemes, AML/FT.

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