Economic and Legal Analysis of Socio-Economic Factors of the Emergence of Threats to the System of Counteracting Money Laundering and Terrorism Financing in Ukraine

Abstract

The purpose of the article is to study the theoretical and applied principles of the economic and legal analysis of socio-economic factors of the emergence of threats to the system of counteracting money laundering and terrorism financing in Ukraine. The results of the conducted research allow us to assert that socio-economic factors have a significant destabilizing effect on the system of counteracting money laundering and terrorism financing in Ukraine and provoke the intensification of the processes of the emergence of threats. The article analyzes the main approaches to determining the socio-economic factors of threats to the system of counteracting money laundering and terrorism financing in Ukraine, systematizes their list and singles out the most important ones. On the basis of a detailed study, an economic and legal analysis of socio-economic factors of the emergence of threats to the system of counteracting money laundering and terrorism financing and their legislative regulation was carried out. It was established that among the most significant socio-economic factors of the emergence of threats to the system of counteracting money laundering and terrorism financing in Ukraine are: (1) the growth of the shadow economy; (2) the deepening of corruption; (3) growth of the state budget deficit; (4) an increase in the number of crimes related to the legalization (laundering) of criminally obtained funds. The weakness of the current domestic legislation in terms of establishing responsibility for crimes containing signs of money laundering and terrorism financing was revealed, which requires its improvement in the direction of strengthening such responsibility. A list of measures of economic and legal regulation of socio-economic factors of the emergence of threats to the system of counteracting money laundering and terrorism financing in Ukraine is proposed, most of which are in the area of harmonizing the current legislation of Ukraine with international and European norms, improving the supervisory activities of state regulators and the methodological tools of financial monitoring.