OPERATIONS OF POLITICALLY EXPOSED PERSONS AS AN OBJECT OF FINANCIAL MONITORING
Abstract
The article considers the topical issues of Russian legislation reforming in order to provide more effective control over the financial operations of politically exposed persons. Due to the fact that politically exposed persons exercise broad authorities, financial operations of this category of people are often connected with a high risk of financial, primarily corruption offences. This peculiarity makes the financial operations of politically exposed persons an object of particular control. A number of changes are proposed to amend the legislation in order to enhance the efficiency of illegally obtained property detection during the procedure of its placement in legal economy. In particular it is proposed to legally define the concept of “politically exposed persons”, and include in it both Russian politically exposed persons and foreign ones. The article also proposes to broaden the number of subjects of politically exposed persons by acknowledging as such former politically exposed persons.
About the Author
M. . Kumukov
The Institute of Legislation and Comparative law under the Government of the Russian Federation
Russian Federation
Russian Federation
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