Financial monitoring consulting

The strategic task of Ukraine is to be a responsible member of the international community, which, in turn, forces to introduce the latest events in the fight against money laundering and to implement European and international standards in Ukrainian legislation, which led to new and stricter regulations for financial transactions, both for the subjects of financial monitoring and for ordinary citizens or legal entities.

Thus, the current legislation, in particular, the Law of Ukraine "On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" of December 6, 2019 №361-IX, which entered into force on April 28, 2020, provides for the new requirements of financial monitoring entities, in particular, for the conduct of due diligence of clients, the use of risk-based approach, monitoring of financial transactions of clients, freezing of assets and suspensions of financial transactions, and for those who are not subjects of financial monitoring, defines new regulations for transfer of funds or virtual assets.

Lawyers and attorneys at law of MGI PSP Audit group of companies offer the following services:

  • consulting the subjects of financial monitoring on the implementation of their responsibilities and the order of organization of their work;

  • consulting the participants of financial transactions on transactions that are planned to be conducted and transactions that are suspended by banks or other entities that provide funds transfer services;

  • appeals against decisions, actions or omissions of banks and other entities that provide funds transfer services to higher authorities and representation in the consideration of complaints;

  • preparation of the necessary procedural documents, including statement of claim, and representation in court.