FEATURES AND SHORTCOMINGS OF WORLD SYSTEM OF COUNTERACTION TO MONEY LAUNDERING AND FINANCING OF TERRORISM

Анотація

Urgency of the research. Existence of such phenomena as money laundering (ML) and financing of terrorism (FT) represents huge danger both to national economies, and to geopolitical and geoeconomic stability in general. Target setting. Features of the world system of counteraction to ML/FT limit its institutional and operational capacities and in certain cases may be tool of sheltering doubtful actions. Actual scientific researches and issues analysis. From the perspective of economic science there are two phenomena which influence the counteraction to ML/FT: substantial adequacy of the repressive measures and a substantial failure of countries to adopt adequate preventive measures. Uninvestigated parts of general matters defining. The system of organization of this policy in global and regional scale may strengthen regulatory actions of the countries or legitimize the situation when the some subjects uses system’s shortcomings for doing doubtful actions. But prerequisites of that are not investigated. The research objective. The article aims to reveal main institutional features and shortcomings of the world system of counteraction to ML/FT. The statement of basic materials. Main institutions of world system of counteraction to ML/FT are considered. It is found that it is a network based on multilateral participation in procedures of monitoring of the movement of illegal financial flows. Its main features are heterogeneity in the status, experience, the list of participants of FATF-style bodies, a possibility of influence of participants on the course and results of monitoring. Conclusions. The world system of counteraction to ML/FT assumes balancing of interests of participants so gaps in implementation of real actions by certain country exist. Such institutional format is a prerequisite of insufficient effectiveness of the system because of the lack of the mechanism of coercion and the fact that questions of specific sanctions pass into political plane.