New international standards of financial monitoring will strengthen opposition to financial crimes, including money laundering, director of the department for financial monitoring of the National Bank of Ukraine Lada Smakhtina said during a roundtable, ForUm correspondent reports.
According to her, the introduction of new FATF standards will also strengthen cooperation between banks and the NBU. "The new version of standards was approved in February of 2012 and is mandatory for all member countries, including Ukraine. Requirements were introduced to implement efficient mechanisms to combat terrorism financing and spread of weapons of mass destruction and to improve the methods of risk assessment in fight against money laundering, when banks work with clients. One of the positive things is a permissibility of operations on open accounts only after identification of a client (legal or physical person). In addition, companies with stock listing will have a simplified identification," the financier said.
In addition, she said that it is stipulated to develop the transparency of transfers, to include the tax crimes in monitoring of money laundering and to strengthen the role of financial intelligence.
As for the direct cooperation with banks on issues of financial monitoring, Smakhtina said that the National Bank tries to discuss carefully all regulatory innovations with bank community.
