This event was held by the Legislation Institute at The Verkhovna Rada of Ukraine, together with the State Financial Monitoring Committee and the European Commission within the MOLI-UA-2 Project Against Money Laundering and Terrorist Financing in Ukraine.

 

The Conference Delegates stressed that 'The system of combatting money laundering and terrorist financing currently covers the whole of the financial sector of Ukraine, and must shortly embrace the non-financial sector as well.'

 

For the first time within this Project it was possible, as mentioned, to invite representatives from educational establishments, experienced in training experts in combatting money laundering, to work out a strategy to provide training in this field aimed at the financial market, adopt general International standards and provide for their cohesive legislative regulation.

 

It was also mentioned that Article 3 'National Prevention Policies' of The Council of Europe Convention  on  the Prevention of Terrorism, signed on behalf of Ukraine in 2005 and ratified in 2006, says, that 'each Each Party shall take appropriate measures, particularly in the field of training of law enforcement authorities and other bodies, and in the fields of education, culture, information, media and public awareness raising, with a view to preventing terrorist offences and their negative effects while respecting human rights obligations as set forth in, where applicable to that Party, the Convention for the Protection of Human Rights and Fundamental Freedoms (1950), the International Covenant on Civil and Political Rights (1966), and other obligations under international law.' Therefore, by its involvement in the Project, stressed the Conference Delegates, 'Ukraine recognizes that it is moving towards European Rules and Standards'.

 

Today, relations in the field of prevention of, and counteraction against, the introduction of income received through criminal activity into legal circulation, is regulated by the Law of Ukraine 'On the Prevention of and Counteraction against the legalization (laundering) of income received through Criminal Activity'.

 

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