Importance Money laundering is one of the risks, which may have a detrimental effect on the existing relations nationwide and worldwide. Currently, there are no specific measures to counter this type of crime, thus giving the way to uncertainty in respective counteraction mechanisms. Objectives The research focuses on the improvement of internal control rules in anti?money laundering and combating the financing of terrorism (AML/CFT) to mitigate risks that entities will be involved in legalizing criminal gains from counterparts. Methods We substantiate, prove and corroborate our recommendations through regulatory and comprehensive approaches to studying the efficiency of corporate performance regulation, and general scientific and special methods of cognition, i.e. statistical data analysis, classification, comparison, generalization, synthesis and deduction. Results We refined a set of methods for countering money laundering for any organizations whatsoever, and propose effective methods for credit institutions to combat this crime. The methods will allow companies to avoid criminal or administrative liability arising from the violation of the Russian laws. Conclusions and Relevance Anti-money laundering practices are an important part of activities for ensuring the economic security of the State. Every legal entity shall have a comprehensive set of internal control policies in place so as to mitigate risks of being involved into money laundering and financing of terrorism, which undermine the economic security of the nation.
Keywords: money laundering, Central Bank, risk assessment, crime, corruption, terrorism
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