Director of Legal Department of Pireaus Bank Mrs. Golanova D. V. took part in First Financial forum of Ukrainian Bar Association
27 October 2016
Director of Legal Department of Piraeus Bank Mrs. Golanova D. took part in First Financial forum of Ukrainian Bar Association with a presentation on topic "Why banksare blocking customer transactions? How advocates can help? Recommendations on efficiency on the way to EU".
Mrs. Golanova D. during her presentation reported: “The banking system in its essence of the activity is very vulnerable to such phenomena as money laundering and terrorism financing. Struggle with them is impossible only by police or bodies with special competence.
Thus, in European Union, other countries of developed world established standards and procedures of financial monitoring, that compulsory for financial institutions and banks on detection suspicious transactions, preventing their implementation and Informing relevant competent bodies.
As emphasized Mrs. Golanova D., bank customers are faced on situations of misunderstanding with banks on refuse to carry out expenditure operations by banks, blocking funds on accounts that may cause significant losses. An effective dialogue between bank and customer is composed, first of all, in faithful correctness assessing of actions of the bank as a subject of primary financial monitoring, that is obliged to conduct risk management on legalization (laundering) of proceeds gained by criminal pursuits, and / or terrorist financing based on the results of identification, verification and studying customer, services, that provided to the client, analyzing operations conducted by him, and their compliance with financial condition and content of the client activity. Highly professional legal assistance will promote to solve the difficult situation because the banks are also turned to retain the customers and supporting the image of stable banking institution.
Therefore, it is essential to carry out effective financial monitoring, considering all positive experience on dealing with this phenomenon in other countries especially the EU Member States as a world leader in struggle of money laundering