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  • HSE University
  • Student Theses
  • International and Russian Legal Regulation of the System of Countering the Legalization (Laundering) of Proceeds from Crime and Terrorism Financing

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Arina Ermakova
International and Russian Legal Regulation of the System of Countering the Legalization (Laundering) of Proceeds from Crime and Terrorism Financing
2018
The main purpose of the Master’s thesis is review of international and Russian legal regulation of the AML/CFT system and analysis of the actual problems in Russian legal regulation of the AML/CFT system.

The Master’s thesis contains introduction, three chapters, conclusion and bibliography. The main stages of international AML/CFT system formation; the system of sources of international AML/CFT law; the most important international standards on AML/CFT are considered in Chapter I of the Master’s thesis. The sources of Russian AML/CFT law; rights, obligations, responsibility of agency of financial monitoring; compliance Russian legal regulation of the AML/CFT system with main international standards on AML/CFT are considered in Chapter II of the Master’s thesis. The actual problems in Russian legal regulation of the AML/CFT system were analyzed in Chapter III of the Master’s thesis.

Therefore, the following conclusions were made. The FATF Recommendations are the main international legal act on AML/CFT, which, despite being an act of "soft law", are respected by most states in the world. The FATF Recommendations contain the key international standards on AML/CFT. Russian legal regulation of the AML/CFT system complies with international standards on AML/CFT. However, at this moment there are a number of problems in Russian legal regulation of the AML/CFT system, which require special attention of authorized bodies on AML/CFT: (1) the legitimacy of refusals from conducting operations by organizations, the refusal of credit institutions to enter into a bank account agreement (deposit), termination of a bank account (deposit) contract on the initiative of a credit institution; (2) the charging of protective tariffs by credit organizations; (3) persons in respect of which organizations are required to exercise internal control; (4) the need to send information about unusual transactions to Rosfinmonitoring.

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