Peculiarities of the functioning of the financial monitoring system in Ukraine

Abstract

The paper examines the peculiarities of the functioning of the financial monitoring system in Ukraine. It is substantiated that in the conditions of the relentless development of Ukrainian society in accordance with world trends, the need to study the peculiarities of financial monitoring and conducting its operations in conditions of digitalization is an urgent issue, therefore the topic of the paper is quite relevant in today's conditions The purpose of the paper is to assess the specifics of financial monitoring in Ukraine and to substantiate proposals for its improvement in the context of active digitalization. It was noted that the central authority appointed to act in the specified area and perform the functions of the financial intelligence unit is the State Financial Monitoring Service of Ukraine. An analysis of the activity of the State Financial Monitoring Service of Ukraine was carried out in terms of operations carried out by it in recent years. The information system that ensures the work of the State Financial Monitoring Service in conditions of digitalization is presented. It is substantiated that at the current stage of development of Ukrainian society there are many problems and abuses in the field of financial monitoring. As a conclusion, proposals regarding the implementation of directions that will contribute to the activation of the implementation of digitalization in the field of financial monitoring in Ukraine are argued. In order to eliminate or minimize the problems that exist today in the field of financial monitoring, the paper proposes to implement the following directions: implement full-fledged transformational changes in monitoring processes in the state; create a favorable environment for the development of e-business; to form an infrastructure capable of ensuring an appropriate level of cyber security, development of cloud technologies and mobile Internet, quality service of subjects of primary financial monitoring; to form a data transmission system regarding information about possible risks that await subjects in the field of digitalization; to provide consulting and technological support to subjects in the field of using protected information and communication systems.