• 14/07/2024 10:15

The government has approved a three-year action plan to combat money laundering

Уряд затвердив трирічний план заходів у сфері боротьби з відмиванням «брудних» коштів

The Cabinet of Ministers approved an Action Plan for the period until 2026 aimed at preventing the occurrence and reducing the negative consequences of money laundering.

As Ukrinform reports, this was reported by the press service of the Ministry of Finance.

“On December 27, 2023, at a government meeting, a plan of measures aimed at preventing the occurrence and reducing the negative consequences of risks identified as a result of the third National Risk Assessment in the field of preventing and combating the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of mass destruction was approved for the period until 2026,” the statement says.

With this decision, the Cabinet of Ministers determined the main national vectors for the development of the financial monitoring system for the next three years.

The action plan was formed based on the results of the third National Risk Assessment, which identified relevant threats (vulnerabilities) for financial monitoring subjects.

The approved plan provides for institutional, legislative, organizational and practical improvement of the national system for combating money laundering in accordance with international standards.

The Ministry of Finance explained that the activities are divided into groups, each of which is assigned performers and deadlines.

We are talking, in particular, about improving both legislation in the field of financial monitoring and the activities of state financial monitoring entities and other bodies; increasing the efficiency of law enforcement and government agencies; ensuring openness of information about the ultimate beneficial owners of legal entities.

It also provides for the development of international cooperation in the fight against “dirty” means.

The Ministry of Finance expects that the implementation of this government document will contribute to the improvement of legislation and the practice of its application and the introduction in Ukraine of new mechanisms to combat the laundering of “dirty” funds.

As reported, in September 2023, the Cabinet of Ministers together with the National Bank approved the methodology for determining the ultimate beneficial owner by a legal entity.


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