Отмывание денег. Банковский мониторинг (L)

In banks that specialize in international money transactions, today more than 10% of employees are engaged in the topic of "compliance with due diligence." In almost every single banking transaction, one should ask about its economic content. In practice, this means collecting commercial contracts, invoices and private law agreements, which are often written in foreign languages. Credibility testing requires translation of documents and often extensive searches for information about the client. At the same time, international money laundering statistics (reports of suspicion, cases of further prosecution, convictions) show a disappointing cost-benefit ratio. The question is whether it is rational to further inflate duties of due diligence. The brochure "Aspects of money laundering in the conditions of Russian reality" by A.B. Yurchuk is attached to the publication.