ON CERTAIN ISSUES OF STRENGTHENING FINANCIAL MONITORING OF POLITICALLY EXPOSED PERSONS IN UKRAINE UNDER MARTIAL LAW

The article analyzes various approaches to the definition of the concept of «financial monitoring». The authors draw attention to the amendments to the Law of Ukraine «On Amendments to the Law of Ukraine «On Prevention and Counteraction to Legalization (Laundering) of Proceeds of Crime, Terrorist Financing and Financing of the Proliferation of Weapons of Mass Destruction» regarding politically exposed persons» of 17.10.2023 [2]. This concerns financial monitoring of politically exposed persons and strengthening the responsibility of primary financial monitoring entities for unjustified refusal to clients during financial transactions. This issue is currently relevant, as strengthening financial monitoring is an important measure to combat various types of financial crime and ensure the security of the financial system. The proceeds of crime should not be legalized. Persons conducting such financial transactions violate the law and general moral standards. The changes in the legislation on strengthening the financial monitoring of politically exposed persons and persons associated with politically exposed persons, enhanced verification by the primary financial monitoring entity, and the establishment of high risk levels for civil servants caused a particular resonance in society. The author analyzes the Recommendations «International Standards for Combating Money Laundering, Terrorist Financing and the Proliferation of Weapons of Mass Destruction» of the Financial Action Task Force on Money Laundering (FATF), which defines the requirements for financial monitoring policy. In addition, attention is drawn to directives aimed at combating money laundering in EU member states. Having analyzed the regulatory and practical aspects of the innovations, the author has developed the recommendations outlined in the article on how to solve certain financial monitoring problems or improve their state.