Modern approaches to banking monitoring: challenges of financial security, legalisation of funds and embezzlement of property in wartime
Modern approaches to banking monitoring: challenges of financial security, legalisation of funds and embezzlement of property in wartime
Financial monitoring in Ukraine’s banking sector is undergoing a period of profound transformation, driven both by internal needs to modernise the financial security system and by external challenges related to the full-scale war.
Recent developments clearly demonstrate that even the country’s leading financial institutions are facing serious systemic issues in the areas of countering money laundering, combating the financing of terrorism, and ensuring an adequate level of control over customer transactions.
Read more in the article by EVERLEGAL lawyers for LIGA ZAKON at the link.
In focus:
- The crisis state of financial monitoring in banks: systemic issues and the need for transformation
- Modern approaches and the role of the FATF: the risk-based approach to countering money laundering
- EU standards and updates to internal audit requirements
- NBU fines: unprecedented amounts and lessons for the market
- KYC and PEP screening: shortcomings as a systemic weakness
- Currency supervision and transactions involving frozen assets
- Technology and automation in monitoring: the need for investment in AI and database integration
- International cooperation and FATF standards
- Economic and reputational consequences of violations
- The future of culture and technology in banking control
Our expert: Oleksandra Grachova, Junior Associate at EVERLEGAL
Links: Facebook, LinkedIn
For questions and consultations, please fill out a short form on the website.
