NEW LAW IN THE FIELD OF PREVENTION AND ANTI-LAW (LAUNCHING) OF THE INCOME FROM CRIMINAL WAY BEGINS TO OPERATE

Abstract

It is substantiated that financial monitoring is a state system for combating money laundering and legalization. Even 30-40 years ago, such a concept did not exist. On the contrary, each country kept the financial information. But the world is becoming global, so the need to combat the problem of «dirty money» is increasing. It is argued that national legislation needs to be amended in order to achieve compliance with the legal system of Ukraine in the field of combating money laundering and terrorist financing and the proliferation of weapons of mass destruction, taking into account the criteria put forward by the European Union (EU). Ukraine has chosen a European integration path for itself, so we now have to constantly harmonize our legislation on financial monitoring and implement international directives. The updated Financial Monitoring Bill has been in development for several years. It was discussed in detail with the National Bank and all financial market participants. It is determined that the new law is a regulatory act and complies with the principles of state regulatory policy, which will make it possible to improve the organization of primary and state financial monitoring and to increase the efficiency of formulation and implementation of state policy in the field of preventing and combating the legalization (laundering) of proceeds, proceeds of crime or crime terrorism. It is stated that the purpose of the new law on financial monitoring is to achieve compliance of the legal system of Ukraine in the field of combating money laundering and terrorist financing and the proliferation of weapons of mass destruction to the criteria set by the European Union (EU) to the countries that intend to join. The main innovation of the law on financial monitoring is that financial transactions are subject to financial monitoring. First of all, it is worth noting that the Law on Financial Monitoring increased the threshold amount of financial transaction subject to financial monitoring from 150,000 UAH. up to 400 000 UAH.