Methodical Approach to the Assessment of Risks Connected With the Legalization of the Proceeds of Crime

Abstract

The aim of the research is to develop a scientific and methodical approach, which consists in the timely identification of systemic risks connected with the legalization of the proceeds of crime, their formalization, assessing and monitoring in order to prevent these transactions occurrence. The article analyzes the state of the Ukrainian economy in terms of its level of shadow economy, the corruption index, and the amount of illegal withdrawal of funds from the country. The key ways and methods of money laundering in Ukraine are defined. The components of the process of illegal withdrawal of funds abroad have been studied as well as key drivers and methods of shadow economy have been identified. The theoretical foundations of the development of the of formalization and assessment model of systemic risks of hiding proceeds are highlighted. A model for assessment of the risk occurrence probability of the legalization of proceeds of crime is developed. The risk occurrence probability of the legalization of proceeds with the participation of Ukraine and partner countries was assessed.

Institutional development gap in the social sector: Cross-country analysis

“…Bilan et al, (2018a,b), Sokolenko et al, (2018), Grenčíková et al, (2019), Kolosok and Myroshnychenko, (2015), , Mentel et al, (2018), Bilan et al, (2019a), Vasilyeva et al, (2014) represented institutions as a factor of macroeconomic stability, business cycle dynamics and sustainable economic development in developing countries and transition economies. In this problem, the role of institutions in the development of the financial and investment markets of transition economies, studied by Djalilov et al, (2015), Dovhan et al, (2017), Poliakh et al, (2017), Leonov et al, (2012), Kostyuchenko et al, (2018), , Valaskova et al, (2018), Vasilyeva et al, (2013), Bilan et al, (2019b), Vasilyevaet al, (2014, arouses great interest. James E. Austin et al (2007), Gowdy et al, (2009), Buriak et al, (2019), Brychko and Semenog, (2018), Bilan et al, (2019c), Kliestik et al, (2018) supposed that the convergence of social development parameters is relevant today for two reasons: 1) The growing importance of social issues and the necessity to bring countries closer to social standards; 2) Blurring the boundaries between the commercial and social sectors.…”

Shadow Economy and its Impact on Demand at the Investment Market of the Country

“…The formation of the country's favorable investment environment, being under the influence of external and internal factors, is considered to be the basis for investment attractiveness of any country (Cheba & Szopik-Depczyńska, 2017). One of the biggest destructive factors is the shadow economy (Al-Sadig, 200;Blajer-Gołębiewska & Kos, 2016;Bobenič Hintošová et al, 2018;Kostyuchenko et al, 2018;Leonov et al, 2014;Vasilyeva, 2013Vasilyeva, , 2016Vasilyeva, , 2018.…”

Trust cycle of the finance sector and its determinants: The case of Ukraine

“…Another important step in the formalization of the trust cycle is the study of existing mechanisms for determining the impact of particular economic categories on the development process of others. Thus, interdependence of human capital and remuneration is analyzed in the paper of Bilan et al (2017), Petrushenko et al (2017), impact of market interest rates on commercial banks' business is stressed in the work of Rahman et al (2016), and the relationship between money laundering and efficiency of monitoring of banking transactions is described by such scientists as Leonov et al (2019), Kostyuchenko et al (2018).…”