The analysis of the securities market vulnerability to the processes of legalization (laundering) of criminal incomes and the terrorism financing

Abstract

The use of the securities market to commit various types of economic crimes, including the legalization of criminal incomes and the terrorism financing, is one of the most significant threats to the security of the national and world economy. The article describes the schemes of money laundering using the securities market tools, analyzes the typological reports of FATF and EAG, highlights the main vulnerabilities in terms of the possibility of using the securities market for ML / FT. The conclusion is made about the dominant role of risk-based supervision by the Central Bank in the Russian securities market in order to timely counteract its use for laundering of criminal incomes and terrorism financing.