The financial activities of both individual citizens and economic entities are strictly regulated and strictly controlled. For an ordinary person, supervision is usually not very noticeable due to legislative peculiarities, but enterprises feel all their charms on themselves. So what is financial monitoring?
general information
The entire existing system is tied to banks. They are subject to federal laws and regulations. In addition, banks are involved in the control of operations carried out by their customers. The greatest attention in this case is paid to money circulation, transfers, legality of transactions and foreign exchange transactions.
A financial monitoring service is being created specifically for monitoring. It is entrusted with the duty to ensure that all operations are legal. In case of detection of suspicious actions or offenses, the financial monitoring service is obliged to act in accordance with the instructions and notify the appropriate authorities. And already they will take the necessary substantial measures. It should be understood that the bank itself when detecting suspicious activity can only block the account. The Federal Financial Monitoring Service is already responsible for something more.
Responsibilities
What does the financial monitoring department do? He observes and collects information in order to subsequently study the financial processes that occur. Feds may decide to take certain measures to combat money laundering. And they are doing this at the level of the whole country.
Banking employees deal with the situation directly in the financial institution where they work. The main goal of all these actions is to counteract the legalization of money received by criminal and terrorist groups. Since these funds would most likely be used to maintain their activity, this goal deserves to be taken.
Who is involved in this process?
Financial monitoring in banks involves the involvement of a large number of employees. In addition to specialists for whom the search for money is their direct responsibility, cashiers, operation officers, and managers are also involved in this process. And no wonder, because this problem should be approached with all attention. After all, if problems of this kind arise, it will spoil the business reputation of a financial institution.
For maximum coverage and honesty, financial monitoring is carried out by a special department, which reports directly to senior management officials. In commercial institutions, such is the board of directors. In the state, these are employees of the highest rank. Moreover, the peculiarity of practical implementation is such that the head of the financial monitoring department can even check the data and communications of senior management. During the check, access to any bank document may be provided. If an unclear situation arises , then the regulation spells out an appeal to any employee to whom it will be appropriate.
The importance of financial monitoring in commercial institutions
Why carry out such checks? The answer lies in the fact that they perform a number of important functions, such as:
- Ensuring the safety of the institution.
- Monitoring internal and external operations through daily reporting.
- Registration of operations.
- Checking clients for involvement in terrorist or criminal structures.
- Prevention of potential crimes.
- Compiling a blacklist of people suspected of questionable activity.
- Control over the implementation of laws.
The Federal Financial Monitoring Service is also involved in this, but it already acts as the inspector of inspectors in order to prevent abuse.
What comes into the view of responsible services?
Let's talk about how to make financial monitoring pay attention to a certain operation. Initially, it should be noted that any operation performed in the amount of more than 600 thousand rubles (or the equivalent in another currency), in accordance with the legislation of the Russian Federation, must be checked. In addition, the activity of controllers gets into the field of vision of controllers:
- Transfers from legal entities to specific citizens (unless, of course, it is a salary, payment of remuneration according to concluded agreements, etc.).
- Receipts of currency. Particular attention is paid to the receipt of money from abroad. And even more thoroughly, the operation is studied in those cases if the funds came from an offshore zone.
- The receipt of money and their withdrawal in cash on the same day.
- Withdrawal of large amounts, which are held as repeated transactions of the same type.
- Numerous deposits that open for short periods (less than a month) with the subsequent closure and withdrawal of money as cash.
- When an individual buys securities for cash.
- Neglect by the customer of favorable conditions.
- The implementation of operations that do not carry economic sense. In this case, you can consider the payment of significant salaries (hundreds of thousands and millions of rubles) in firms that operate at zero.
- The inability to classify the parties that participate in the transaction.
- Transferring amounts of money to other banks that offer the worst conditions in the form of low rates on deposits, take high fees and more.
As you can see, becoming an object of research and interest from responsible services is easy enough. This is largely due to the very significant activity of criminal elements.
What if the operation was successful?
In such cases, as a rule, it is enough to provide documents that confirm the legality of the funds in the accounts. Such may be statements of salary accounts, documents that confirm the profit made as a result of commercial activities, contracts of sale, inheritance or gift. You can also use copies of financial statements, tax returns, audit reports. In most cases, this is more than enough to unblock an account or an ongoing operation. True, there may be a certain hitch in responding to evidence of legality.