Academic journal article Journal of Legal, Ethical and Regulatory Issues

International Aspect of a Legal Regulation in the Field of Financial Crime Counteraction by the Example of Special Services of Ukraine and the Cis Countries

Academic journal article Journal of Legal, Ethical and Regulatory Issues

International Aspect of a Legal Regulation in the Field of Financial Crime Counteraction by the Example of Special Services of Ukraine and the Cis Countries

Article excerpt

INTRODUCTION

Before presenting the main material and analyzing the legislation of Ukraine and foreign countries regarding the legal regulation of counteraction to financial crimes, it is advisable to pay attention to the financial system of the country as an object of a financial crime, to the general features of protecting the state financial system from illegal encroachments in the financial sphere, and to the role of special services in its implementation.

Protection of the national financial system is relevant for each country. Such attention is due to the emergence, in the context of globalization, of the new financial crimes, to the difference in methods of their commission and concealment, and to the dependence of the development of the state as democratic on the ability of government agencies and law enforcement agencies to counteract financial crimes (Wright, 2017).

Despite the importance of the financial system for state security, the definitions a "financial system of the state" and a "financial crime" are not formalized in the Ukrainian legislation; accordingly, there exist different approaches to its understanding in scientific doctrine. In Russia, the understanding of the financial system at the normative level is ambiguous, while the concept is not specified in the regulatory acts, including those that specialize in the regulation of the financial system. Moreover, there is a lack of the notion of a financial system in the international instruments, although it has been repeatedly mentioned. Proceeding from the above, it is worth to pay attention to the existing scientific approaches to the definition of the "national financial system'".

In this regard, for the introduction of a unified approach to the definition of the concept of the "national financial system" in the legislation of Ukraine and CIS countries, it is proposed to regard it as an aggregate of separate but interrelated financial institutions that implement and regulate the financial activities of the state.

The main threat to financial systems of the country is financial crimes and despite the growth of financial crime, the data of criminological research shows less and less its actual scope (Antinori, 2018).

If we talk about the management of the national financial system, then according to the legislation of Ukraine and the Russian Federation, the Republic of Belarus, the Republic of Kazakhstan and the Republic of Moldova, we can allocate the parliament-the state legislative body, which adopts laws that establish the basis for the existence of a stable financial system, in particular, the list of financial crimes and punishment for them; the government-the body that executes the program of economic development of the state, including the financial system; the head of the state-president, who signs the laws passed by the parliament and owns the veto over the laws.

Thus, there are all legislative grounds to assert that the parliament, the government and the head of state act as controls for the national financial system, contribute to activities on the crime counteraction, including financial, since the country's security is one of the main functions of the state. In particular, the Decree of the President of the Republic of Belarus "On the Approval of the Concept of National Security of the Republic of Belarus'" No. 575 dated November 9, 2010 refers the state to the subjects of national security exercising its powers in this sphere through legislative, executive and judicial bodies; public and other organizations; citizens. At the same time, Foros, taking into account the fact that the management bodies only contribute to counteracting financial crimes, emphasizes that counteraction to crimes is the main task and function of law enforcement agencies (Foros, 2012).

Rider also draws attention to the importance of interaction between state authorities and law enforcement agencies in the fight against financial violations. …

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