PARTICIPATION OF FATF IN THE INTERNATIONAL LEGAL REGULATION OF COMBATING THE FINANCING OF TERRORISM: ASSESSMENT OF OPPORTUNITIES FOR UKRAINE

Анотація

In the conditions of the modern development of the international financial sector, the importance of the anti-money laundering and terrorist financing system is particularly important. This system is regulated using FATF standards. The study of the elements of this system should take into account the situation that is happening in the world, in particular, political and military. The purpose of the article is to reveal the specifics of the FATF's activities in order to determine the possibilities of using this group's tools in the fight against Russia's military aggression against Ukraine. Based on the study of literary sources, the peculiarities of FATF functioning are summarized according to such characteristics as the purpose; sphere of interests; term of existence; the organizational structure; forms of cooperation; decision-making procedures at plenary meetings; budget; methods and mechanisms used in the activity. The article provides a retrospective analysis of the FATF's activities, provides an assessment of its expansion in thematic, subject, and geographical aspects. This made it possible to predict the effectiveness of the implementation of FATF tools in combating the financing of terrorism, taking into account the collective efforts of world political actors. The trends of FATF activity were analyzed (identification of state jurisdictions with strategic deficiencies and a weak system; fight against terrorist financing; working out the issue of "virtual assets"). It has been established that all of them are aimed at combating the financing of terrorism. Significant risks from Russia's financing of terrorism during the aggression against Ukraine were emphasized. This violates the requirements and principles of the FATF. In connection with the military aggression, Ukraine is currently trying and taking all possible actions to completely remove Russia from the FATF, as well as blacklisting it. The potential consequences (deterioration of the country's authority; complication of trade operations; reduction of funding for military operations) of the implementation of these procedures and obstacles to their implementation (significant time spent; possibility of blocking from Russia's position; insufficiently high level of effectiveness of the procedure) are identified.

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