Assessment of Public Opinion on Compliance with Anti-Cleaning Legislation

Authors

DOI:

https://doi.org/10.14515/monitoring.2021.2.1730

Keywords:

anti-laundering system, Table of Eleven methodology, survey of officials, sanctions for offenses, money laundering

Abstract

Compliance with legislation in general and the Federal Law “On Combating Legalization (Laundering) of Criminally Obtained Incomes and Financing of Terrorism" (AML / CFT) in particular, is a civic duty of the population and officials. At the same time, the media and Internet resources inform about its violation quite often. In this regard, the authors aimed to study the specialists’ value attitudes in relation to the AML/CFT law. For this purpose, a sociological survey was conducted on a multistage sample. The results were processed utilizing the adapted Table of Eleven (T11) methodology, based on the concept of rational choice, the theory of justified actions and the normative theory of law.

To study the factors that affect compliance with the anti-money laundering law, the authors summarized and analyzed the opinions of the special officials of commercial banks, the AML / CFT specialists of the Central Bank of the Russian Federation, and the employees of units for combating economic and organized crime of law enforcement agencies. The results of the study indicate that the state anti-money laundering policy resonates with the special officials, the law itself is clear and understandable to the executors. However, control over banks, sanctions against violators and the indifference of the population and the business community in information interaction with regulatory authorities do not contribute to full compliance with the provisions of anti-money laundering legislation. Measures for the development of general solidarity in society and the expansion of financial literacy programs among entrepreneurs are called upon to significantly improve the environment for the implementation of the law.

Acknowlegements. The reported study was funded by RFBR, project number 20-010-00243.

Author Biographies

Nataliia Yu. Tanyushcheva, Astrakhan State University

  • Astrakhan State University, Astrakhan, Russia
    • Cand. Sci. (Econ.), Associate Professor, Department of World Economy and Finance

Natalia N. Kunitsyna, North Caucasus Federal University

  • North Caucasus Federal University, Stavropol', Russia
    • Prof.  Dr.  habil. (Econ.), Head of the Department of Finance and Credit

Published

2021-05-08

Issue

Section

STATE AND SOCIETY