Social and Legal Studios
ISSN 2617-4162
e-ISSN 2617-4170
Publisher: Lviv State University of Internal Affairs
Abstract
The relevance of this study stems from the need to enhance mechanisms for countering financial crime amid increasing threats to the state’s economic security during martial law. This study aimed to assess the intensity of the impact of destabilising factors on operational and investigative activities in the area of money laundering and the illicit legalisation of proceeds. The research methodology was based on an expert survey involving 40 specialists, who were asked to complete a questionnaire using the pairwise comparison method with the Saaty scale. Seven key destabilising factors were identified, with the most influential being the globalisation of financial flows, the proliferation of digital currencies, and the inadequacy of the regulatory and legal framework. The impact of each factor was evaluated across three scenarios: realistic, pessimistic, and optimistic. For each scenario, reciprocal comparison matrices were constructed, on the basis of which normalised weights and factor rankings were calculated. It was found that, under a negative development scenario, the threat posed by internal abuses and insufficient technical training of personnel increases significantly. It was concluded that effective counteraction to financial crime requires the simultaneous reform of legislation, the modernisation of the technical infrastructure of law enforcement agencies, and the strengthening of international cooperation. The importance of adapting legal mechanisms to the rapid evolution of financial technologies was also emphasised. The practical value of the findings lies in their potential application by operational unit managers, policymakers, and financial security analysts to improve systems for identifying and neutralising financial threats
Keywords: money laundering; illicit legalisation of proceeds; financial security; factor ranking; negative factors; destabilisation
Suggested citation
[1] Akinbowale, O.E., Klingelhöfer, H.E., & Zerihun, M.F. (2020). An innovative approach in combating economic crime using forensic accounting techniques. Journal of Financial Crime, 27(4), 1253-1271. doi: 10.1108/JFC-04-2020-0053.
[2] Albanese, J.S. (2021). Organized crime as financial crime: The nature of organized crime as reflected in prosecutions and research. Victims & Offenders, 16(3), 431-443. doi: 10.1080/15564886.2020.1823543.
[3] Alexandre, C.R., & da Silva, J.B. (2023). Incorporating machine learning and a risk-based strategy in an anti-money laundering multiagent system. Expert Systems with Applications, 217, article number 119500. doi: 10.1016/j.eswa.2023.
[4] Alkema, V., Hryhoruk, P., Skhidnytska, H., & Sylkin, O. (2024). Resilience and strategic management: ways to ensure economic and social security of Ukrainian enterprises during long-term warfare. Clio. Journal of History, Human Sciences and Critical Thought, 9, 740-767. doi: 10.5281/zenodo.14567108.
[5] American Sociological Associationʼs Code of Ethic. (1997). Retrieved from https://www.asanet.org/wp-content/uploads/savvy/images/asa/docs/pdf/CodeofEthics.pdf.
[6] Berzin, P., & Volynets, R. (2018). Mechanism features of damaging the stock market and its significance in criminal law.
3cientific Bulletin of Polissya, 2(14), 93-98. doi: 10.25140/2410-9576-2018-2-2(14)-93-98.
[7] Bespalko, I.L. (2020). The exercise of proportionality within the application of measures to ensure criminal proceedings. Actual Problems of National Jurisprudence, 2, 119-124. doi: 10.15421/392057.
[8] Bilokin, R. (2025). Globalisation and criminal process: Prosecutorial supervision of operational and investigative activities in the context of transnational threats. 3cientific Journal of the National Academy of Internal Affairs, 30(1), 9-20. doi: 10.63341/ naia-herald/1.2025.09.
[9] Blikhar, M., Vinichuk, M., Komarnytska, І., Zaiats, O., & Kashchuk, М. (2022). Counteraction to financial crimes in the system of fight against legalization (laundering) of criminally obtained funds. Financial and Credit Activity Problems of Theory and Practice, 1(42), 73-83. doi: 10.55643/fcaptp.1.42.2022.3704.
[10] Cherniavskyi, S. (2023). Forensic methods of investigation of criminal offenses in the sphere of economic activity in Ukraine: Theory and practice. Philosophical and Methodological Problems of Law, 25(1), 190-192. doi: 10.33270/01232502.190.
[11] Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism. (2005, April). Retrieved from https://rm.coe.int/168008371f?utm_source=chatgpt.com.
[12] Countering Ransomware Financing. (2023). Retrieved from https://www.fatf-gafi.org/en/publications/Methodsandtrends/countering-ransomware-financing.html.
[13] Economic news. (2019). Kolomoisky and Bogolyubov withdrew 5.5 billion from PrivatBank through a branch in Cyprus – OCCRP. Retrieved from https://www.radiosvoboda.org/a/news-kolomojskyy-i-boholiubov-vyvely-ponad-5-mlrd-cherez-kipr- occrp/29893061.html.
[14] FATF. (2025). High-risk jurisdictions subject to a call for action. Retrieved from https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html?utm_source=chatgpt.com.
[15] FBI National Press Office. (2023). 2023 cryptocurrency fraud report. Retrieved from https://surli.cc/wothmx.
[16] ICC/ESOMAR International Code on Market, Opinion and Social Research and Data Analytics. (2016). Retrieved from https://esomar.org/uploads/attachments/ckqtawvjq00uukdtrhst5sk9u-iccesomar-international-code-english.pdf.
[17] Kaya, H.D., & Lumpkin-Sowers, N.L. (2020). The global crisis and crime: A look into manufacturing firms. Socio Economic Challenges, 4(3), 66-76. doi: 10.21272/sec.4(3).66-76.2020.
[18] Kertész, J., & Wachs, J. (2020). Complexity science approach to economic crime. Nature Reviews Physics, 3, 70-71. doi: 10.1038/s42254-020-0238-9.
[19] Law of Ukraine No. 361-IX “On Preventing and Combating the Legalisation (Laundering) of Proceeds from Crime, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction”. (2019, December). Retrieved from https://zakon.rada.gov.ua/laws/show/361-20#Text.
[20] Loskutov, T.O. (2023). Legal regulation of the principle of proportionality in criminal proceedings under martial law. Analytical and Comparative Jurisprudence, 1, 524-529. doi: 10.24144/2788-6018.2023.01.91.
[21] Lyeonov, S., Kuzmenko, O., Bozhenko, V., Mursalov, M.M., Zeynalov, Z.G., & Huseynova, A. (2021). Forecasting the risk of money laundering through financial intermediaries. Financial and Credit Activity Problems of Theory and Practice, 4(35), 191-
201. doi: 10.18371/fcaptp.v4i35.222015.
[22] Methods and trends. (2022). Retrieved from https://www.fatf-gafi.org/en/topics/methods-and-trends.html#:~:text=14%20 Mar%202023.
[23] MONEYVAL. (2019). Anti-money laundering and counter-terrorist financing measures. Ukraine: 1st enhanced follow-up report & technical compliance re-rating. Retrieved from https://www.fatf-gafi.org/content/dam/fatf-gafi/fsrb-fur/Moneyval-Follow-Up- Report-Ukraine.pdf.coredownload.pdf.
[24] Monthly FIN traffic evolution. (2022). Retrieved from https://www.swift.com/about-us/who-we-are
[25] Rekunenko, I., Kobets, Zh., & Shvydko, I. (2020). Features of formation and application of financial monitoring system in Ukraine. Visnyk of Sumy State University. Economy Series, 1, 104-117.
[26] Report finds trade misinvoicing continues to be a massive and persistent problem. (2021). Retrieved from https://gfintegrity.org/press-release/report-finds-trade-misinvoicing-continues-to-be-a-massive-and-persistent-problem/.
[27] Rusanov, G., & Pudovochkin, Y. (2021). Money laundering in the modern crime system. Journal of Money Laundering Control, 24(4), 860-868. doi: 10.1108/JMLC-08-2020-0085.
[28] Souto, M. (2020). Money laundering, cybercrime and criminal responsibility of legal persons. Internal Security, 12(1), 125-150. doi: 10.5604/01.3001.0014.3193.
[29] Tertychnyi, P., Godgildieva, M., Dumas, M., & Ollikainen, M. (2022). Time-aware and interpretable predictive monitoring system for Anti-Money Laundering. Machine Learning with Applications, 8, article number 100306. doi: 10.1016/j.mlwa.2022.100306.
[30] Vasyuk, S., Panchenko, V., Panchenko, O., Svyrydiuk, N., & Kuzminov, M. (2024). Strategies of police and analytical support for financial crime prevention in a context of global geopolitical crisis. Guidelines for ensuring financial security in Ukraine. Clio. Journal of History, Human Sciences and Critical Thought, 9, 659-687. doi: 10.5281/zenodo.14567007.
[31] What are the Panama Papers? A guide to historyʼs biggest data leak. (2016). Retrieved from https://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers.
[32] Witbooi, E., Ali, K.-D., Santosa, М.A., Hurley, G., Husein, Y., Maharaj, S., Okafor-Yarwood, I., Arroyo Quiroz, I., & Salas, О. (2020). Organized crime in the fisheries sector threatens a sustainable ocean economy. Nature, 588, 48-56. doi: 10.1038/ s41586-020-2913-5.