IMPROVING THE FINANCIAL MONITORING SYSTEM: AUTOMATION OF THE BANK'S CUSTOMER VERIFICATION PROCESS

Abstract

The article is devoted to Improving the system of financial monitoring of the bank by automating the process of verification of bank customers. One of the simplest, but one of the most relevant, in terms of combating money laundering, is the process of assessing the level of invalidity of the client. However, it is not so much his financial capacity as his reputation and the level of probability of involvement in the legalization of criminal proceeds. The bank's clients are the second link in the process of legalization of criminal proceeds, namely an element of the placement process. If the bank's clients place criminally obtained funds, the process of their further identification will become much more complicated and will require additional efforts. Automation of identification and verification processes helps not only to save time on establishing the client's involvement in the legalization of criminal proceeds, but also eliminates the risk of involvement of the bank employee in such operations. Automation of customer identification and verification processes should include full or partial automation of processes: filling out a customer card in an automated banking system; filling in the electronic questionnaire of the client; checking the client's affiliation with politically significant and related persons and obtaining permission to establish business relations with them; customer data verification; financial condition assessments; customer reputation assessments; customer risk assessment; receiving a decision-proposal to establish a business relationship with the client or to refuse service; further updating of data; risk reassessment. Recently, it is especially important to assess the bank's client's affiliation with a politically significant person, as well as to establish the ultimate beneficial owner of the client. A study of the full implementation and enforcement of international agreements between the Government of Ukraine and the United States on tax claims on foreign accounts also found a place. Therefore, the process of identification and verification of customers is very important, and its rational automation can free up time for the bank's specialists to carry out the process of customer verification, which is impossible to conduct online.