The Cabinet of Ministers of Ukraine within the framework of counteracting legalization of proceeds from crime has created a Special Advisory Board headed by the leadership of the State Financial Monitoring Service of Ukraine, whose task will be to coordinate the activities of various authorities in the fight against illegal financial flows and the proliferation of weapons and terrorism.
”The Council consists of representatives of all government agencies, including the National Anti-Corruption Bureau of Ukraine, and representatives of self-regulatory organizations, work-related to financial markets, and the Independent Association of Ukrainian Banks,” according to the explanatory memorandum Decree No.613, published on the web portal of the Ukrainian Government.
”The establishment of the Council is an important element of Ukraine`s preparation for the 5th round of the evaluation system of countering legalization (laundering) of proceeds from crime, terrorist financing and the financing of proliferation of weapons of mass destruction by the Committee of Experts of the Council of Europe MONEYVAL, which is scheduled for March 2017,” the memorandum reads.
In addition to the main task, the Council also conducts an analysis of legislation and sources of international law in the field of preventing and combating money laundering, and participates in the drafting legal acts for the implementation of international standards in the fight against money laundering, including the standards of the Financial Action Task Force (FATF), prepares action plans to combat illegal finance, submits the results of its work, recommendations and proposals to the Cabinet of Ministers of Ukraine.
The curator of the Council`s work is appointed the State Financial Monitoring Service of Ukraine.