Article 14.
Money Laundering

Article provisions:
1. Each State Party shall:
(a) Institute a comprehensive domestic regulatory and supervisory regime for banks and non-bank financial institutions, including natural or legal persons that provide formal or informal services for the transmission of money or value and, where appropriate, other bodies particularly susceptible to moneylaundering, within its competence, in order to deter and detect all forms of money-laundering, which regime shall emphasize requirements for customer and, where appropriate, beneficial owner identification, record-keeping and the reporting of suspicious transactions;
(b) Without prejudice to article 46 of this Convention, ensure that administrative, regulatory, law enforcement and other authorities dedicated to combating money-laundering (including, where appropriate under domestic law, judicial authorities) have the ability to cooperate and exchange information at the national and international levels within the conditions prescribed by its domestic law and, to that end, shall consider the establishment of a financial intelligence unit to serve as a national centre for the collection, analysis and dissemination of information regarding potential money-laundering.
2. States Parties shall consider implementing feasible measures to detect and monitor the movement of cash and appropriate negotiable instruments across their borders, subject to safeguards to ensure proper use of information and without impeding in any way the movement of legitimate capital. Such measures may include a requirement that individuals and businesses report the cross-border transfer of substantial quantities of cash and appropriate negotiable instruments.
3. States Parties shall consider implementing appropriate and feasible measures to require financial institutions, including money remitters:
(a) To include on forms for the electronic transfer of funds and related messages accurate and meaningful information on the originator;
(b) To maintain such information throughout the payment chain; and
(c) To apply enhanced scrutiny to transfers of funds that do not contain complete information on the originator.
4. In establishing a domestic regulatory and supervisory regime under the terms of this article, and without prejudice to any other article of this Convention, States Parties are called upon to use as a guideline the relevant initiatives of regional, interregional and multilateral organizations against money-laundering.
5. States Parties shall endeavour to develop and promote global, regional, subregional and bilateral cooperation among judicial, law enforcement and financial regulatory authorities in order to combat money-laundering.

State evaluation
Public evaluation
National legislation of Ukraine is consistent with Article 14 on the prevention of money laundering of the UNCAC. The Intelligence Unit (FIU) in place functions. Necessary tools have been created for prompt response to detected violations in terms of money laundering. The profile legislation was updated, which was positively assessed by MONEYVAL.

The FIU actively cooperates with the state agencies and with FIUs of foreign countries. Active work is underway to investigate possible offenses and transfer to file materials based on the results of investigation results. The FIU is striving to ensure that Ukraine meets the requirements to comply with MONEYVAL.

In short

State of implementation

Practices

positive

negative

Promptly functioning financial intelligence unit with the necessary tools.
Adoption and implementation of a risk-oriented approach to the activities of banks as the main subjects of SPFM.
Adoption of a new progressive Law on Prevention and Counteraction.
Active cooperation of SFMS within the country and with FIUs of foreign countries.
Availability of information on the activities of SFMS.
Lack of qualified personnel in law enforcement agencies that can promptly deal with generalized materials.
Different approaches to determining risk criteria in banking institutions.
State evaluation will be published soon

In short

State of implementation

Practices

positive

negative

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Example of negative practice
Example of negative practice
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Actual research and materials
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