E-money: opportunities for quick payments and risks of their use for illegal purposes

Вестник Российского экономического университета имени Г. В. Плеханова

M. Yu. Kuzmenkov¹  A. A. Koval² 

[1] Russia OECD VAVT Club of the Ministry of Economic Development of the Russian Federation.;Russian Center of Competences and Analysis of Standards of OECD of a RANEPA under the President of the Russian Federation.;

关键词: money laundering;    e-money;    pre-paid cards;    fatf;   

DOI  :  10.21686/2413-2829-2018-5-69-75

来源: DOAJ

【 摘 要 】

E-money is widely used in cross-border commercial relations. It can increase the speed and cut cost of payments for business. At the same time e-money can be used for laundering funds gained by criminal ways and for terrorism financing. FATF member-states use provisions of the legislation about fighting criminal incomes’ legalization in respect to e-money issuers. These countries also underline that special risk for criminal incomes’ legalization can be caused by anonymous money and pre-paid cards. Therefore, many countries fix in their national laws measures that ensure realization of risk-oriented approach directed at minimizing risks of money laundering and terrorism financing. For example, the EU develops amendments to the directive aiming at elimination of risks dealing with use of e-money and pre-paid cards for legalizing criminal incomes. The authors propose measures aimed at improvement of legislation about fighting money laundering and terrorism financing to minimize respective risks in using e-money. At the same time the necessity to develop conditions for extending possibilities of remote identification was pointed out, as it was envisaged by the program ‘Digital Economics of the Russian Federation’.

【 授权许可】

Unknown