MODERN SHADOW SCHEMES OF THE CONVERSION CENTERS: IDENTIFICATION AND PREVENTION

Abstract

The article considers the definition of a «conversion center» and a «fictitious enterprise». The dynamics of the number of conversion centers in recent years is analyzed, approximate losses from their activities are given. Acknowledgement of banks important role in the shadow schemes of conversion centers, made it possible to offer solutions to neutralize banks activities in such schemes. Bank fines are considered in terms of shadow schemes non-disclosure, which implies the ineffectiveness of the intra-bank system to prevent the legalization of criminal proceeds and the financing of terrorism. Special attention was paid to the shadow channels, which in their schemes use transit pits, with detailed consideration of all stages and recommendations for preventing the emergence of such schemes in the future. The article shows the most relevant schemes for legalizing funds obtained by criminal ways with the use of buffer enterprises, foreign economic contracts and correspondent accounts. The modern schemes of "dirty" money legalization by individuals with using electronic payment systems and the cryptocurrency exchange are investigated. Despite the prohibition on certain electronic payment systems in Ukraine, it is concluded that they are still actively used by Ukrainian citizens. It has also been established that significant shadow flows through these systems arise due to low restrictions on anonymous calculations throughout the day, which to a large extent seems to us reveals the fault of the electronic payment systems themselves. The results of the conducted research made it possible to propose the main methods of fighting with schemes legalizing illegally acquired funds. Bankruptcy is shown as a protective tool for conversion centers. The importance of financial monitoring services modernization is justified.