Doubted, suspicious and illegal transactions as an object of financial monitoring

The article examines the essence of the categories dubious, suspicious and illegal operation (transaction) from the legislation on combating money laundering and the financing of terrorism. Purpose of the study: to identify and develop proposals for eliminating conflicts in regulations that complicate their enforcement practice in the process of financial monitoring of dubious, suspicious and illegal transactions. An analysis of the definitions of these categories of operations from regulations and information messages of the Bank of Russia and control and supervisory authorities was carried out. Their inconsistency with the responsibilities performed by private sector entities has been revealed. The shortcomings of the definitions are substantiated on the basis of a comparative analysis, identification of relationships and differentiation in accordance with the stages of financial monitoring and the powers of private sector entities, financial intelligence units, control and supervisory and law enforcement agencies. A schematic representation of the relationships between dubious, suspicious and illegal transactions among themselves and with the stages of the financial monitoring process has been compiled. Clarified definitions of dubious and suspicious transactions are proposed. This will eliminate the identified inconsistencies between the legislatively established content of the terms and the actual practice of identifying and suppressing them in the activities of private sector entities.