№ 4/2021

№ 4/2021

Nauk. pr. NDFI 2021 (4): 106–123https://doi.org/10.33763/npndfi2021.04.106

SCIENTIFIC SUPPORT OF INSTITUTIONAL REFORMS

KUZMINSKA Olga ¹

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-6625-7528

The role of financial monitoring as a mechanism to control threats in the field of economic security of Ukraine

The article, based on the analysis of the current regulatory framework in the areas of financial monitoring and economic security, as well as information from professional publications outlines the vectors of interpretation of the content and components of economic and financial security. The stable state of the state is recognized as economically safe, which is characterized by a balance of relevant indicators and invulnerability to external and internal threats, and ensures sustainable and effective development on the basis of compliance with national economic interests. The stable state of the public financial system is recognized as financially secure, which creates the necessary financial conditions for its sustainable development ensuring the stability of the country's financial system. The current risks and threats to national and economic security related to the field of prevention and counteraction are highlighted; the main factors that may contribute to the spread of money laundering and terrorist financing, the consequences of an ineffective system of minimizing current risks and threats in preventing and combating legalization (laundering) of proceeds of crime, terrorist financing and proliferation of weapons of mass destruction. The interrelation between the goals of the Economic Security Strategy of Ukraine and the measures of the financial monitoring system has been clarified. In particular, strengthening the economic security of the state will contribute to the solution of such key tasks of financial monitoring as: minimization of risks and threats in the field of prevention and counteraction; introduction of new mechanisms for verifying basic information on the ownership structure of companies and ultimate beneficial owners; timely detection, seizure and confiscation of proceeds of crime; strengthening measures to prevent the commission of terrorist acts, terrorist activities and the proliferation of weapons of mass destruction by timely detection and blocking of sources of funding; improving the forms and methods of state regulation and supervision on financial monitoring and sanctions policy. The key areas of state policy in the field of anti-legalization, which meet the strategic goals of economic security include, in particular: ensuring the effective functioning and development of the system of prevention and counteraction; ensuring the effective functioning and sustainable development of the system of detection and pre-trial investigation of criminal offenses, court proceedings; close national and international cooperation; providing educational activities and scientific support of the system of prevention and counteraction; ensuring transparency of activities in this area.

Keywords:economic security, financial security, normative-legal provision, financial monitoring, challenges, threats, sphere of prevention and counteraction to legalization of illegal incomes

JEL: F36, F52, G18, H56, O57

Kuzminska O. . The role of financial monitoring as a mechanism to control threats in the field of economic security of Ukraine / O. Kuzminska // Наукові праці НДФІ. - 2021. - № 4. - C. 106-123.

Article original in Ukrainian (pp. 106 - 123)

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