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Techniques for implementing anti-money laundering procedures

Berezanskii V.V. Ernst & Young (Russia), Moscow, Russian Federation ( Vladimir.Berezansky@ru.ey.com )

Chaldaeva L.A. Financial University under Government of Russian Federation, Moscow, Russian Federation ( Chaldaeva45@mail.ru )

Kilyachkov A.A. Ernst & Young (Russia), Moscow, Russian Federation ( Anatoly.Kilyachkov@ru.ey.com )

Journal: Finance and Credit, #31, 2015

Manipulating the banking system for money-laundering purposes is a relatively new phenomenon. The problem was first identified in 1986 in the United States, when it was classified as a criminal offence. In Russia, anti-money laundering measures are regulated by Federal Law On Counteracting Money Laundering and the Financing of Terrorism of August 7, 2001 115-FZ (as amended). Given the high-speed, digitalized nature of banking transactions, the technology for countering money laundering should be no less sophisticated; and the speed of detecting suspicious transactions should be commensurate with that of the underlying bank transactions. The Central Bank of Russia (CBR) is now highly experienced in identifying mechanisms and schemes for money laundering. Reviewing the CBR's typology for suspicious transactions, we have categorized them as follows: multi-parameter, complex, dynamic and multivariate. To develop an algorithm for detecting suspicious transactions, it is important to adhere to a correct sequencing (hierarchy) of operations. We also propose to supplement the principle of algorithmic hierarchy with a taxonomical approach. Adapting our proposed taxonomic approach to formulating a typology of parameters characterizing suspicious transactions, in combination with the principle of hierarchical analysis, will create an effective and efficient algorithm for identifying suspicious money laundering transactions.


Techniques for implementing anti-money laundering procedures

Berezansky V.V. Ernst & Young, Moscow, Russian Federation ( Vladimir.Berezansky@ru.ey.com )

Chaldaeva L.A. Financial University under Government of Russian Federation, Moscow, Russian Federation ( Chaldaeva45@mail.ru )

Kilyachkov A.A. Ernst & Young, Moscow, Russian Federation ( Anatoly.Kilyachkov@ru.ey.com )

Journal: Digest Finance, #1, 2016

Manipulating the banking system for purposes of money laundering is a relatively new phenomenon. This problem was first identified in 1986 in the United States, when it was classified as a criminal offense. In Russia, anti-money laundering measures are regulated with Federal Law No.115-FZ On Counteracting Money Laundering and the Financing of Terrorism (7August2001, asamended). Given the high-speed, digitized nature of banking transactions, the technology for countering money laundering should be no less sophisticated; and the speed of detecting suspicious transactions should be commensurate with that of the underlying bank transactions. The Central Bank of Russia is now highly experienced in identifying mechanisms and schemes for money laundering. Reviewing the typology of the Central Bank of Russia for suspicious transactions, we have categorized them as follows: multi-parameter, complex, dynamic and multivariate. In order to construct an algorithm for detecting suspicious transactions, it is important to adhere to a correct sequencing (hierarchy) of operations. We also propose to supplement the principle of algorithmic hierarchy with a taxonomical approach. Adapting our proposed taxonomic approach to formulating a typology of parameters characterizing suspicious transactions, in combination with the principle of hierarchical analysis, will create an effective and efficient algorithm for identifying suspicious money laundering transactions.


Description of changes in global GDP within short time intervals using a discrete dynamic model

Kilyachkov A.A. Ernst&Young, Moscow, Russian Federation ( AAKil@mail.ru )

Chaldaeva L.A. Financial University under Government of Russia, Moscow, Russian Federation ( Chaldaeva45@mail.ru )

Kilyachkov N.A. Moscow State Institute of International Relations (University), Moscow, Russian Federation ( NKil@hotbox.ru )

Journal: Financial Analytics: Science and Experience, #44, 2015

Importance The global economy experiences periodic changes in GDP growth rates that regularly develop into economic crises. A model for describing this process should be of considerable scientific and practical interest.
     Objectives The paper explores the dynamics of the model's bifurcation parameters within short intervals of time.
     Methods The proposed dynamic model was devised using the information on growth rates of GDP as reported in the World Bank website. We applied the least squares method and a sliding approximation interval to determine coefficients of approximating polynomials. It is appropriate to use a five year interval for determining the coefficients of the approximating polynomial. The accuracy of statistical data approximation is assessed with a determination coefficient.
     Results The proposed model describes trends in the world economy over short time intervals. As a result of this study, qualitative characteristics of the model were obtained, including convergence areas, stable fixed points, stable cycles and dynamic stability areas. Moreover, areas of convergence represent a fractal patterns.
     Conclusions and Relevance As compared with statistical data, growth rates of global GDP coincide with convergence areas of the discrete dynamic model, indicating the importance of studying the qualitative characteristics of the model to describe global economic processes.


Business processes modeling: theoretical considerations and justifications

Chaldaeva L.A. the Doctor of Economics, the professor Chairs Economy and Crisis management, Financial university under the Government of the Russian Federation ( chaldaeva45@mail.ru )

Kilyachkov A.A. Candidate of technical science, senior staff scientist, manager audit Department Ernst & Young ( AAKil@mail.ru )

Journal: Finance and Credit, #9, 2011

Modeling is actively used in modern economic and financial science for visual process demonstration, forecasting and anti-recessionary correction of input data. Requirements for modeling and model parameters are examined in the article.


Residual risks management

Chaldaeva L.A. doctor of economic sciences, professor, The Finance State University under the government of Russian Federation ( chaldaeva45@mail.ru )

Kilyachkov A.A. Doctor of Technical Science, manager of Ernst & Young company ( aakil@mail.ru )

Dydykin A.V. Mordovsky State University named by N.P. Ogarev

Journal: Finance and Credit, #31, 2011

An article is devoted to a risk management. A residual risk mitigation procedure is proposed. This procedure is a combination of different ways of business process implementation in such a way that leads to maximum of an assured financial business result. The workability of this method was demonstrated in the article.


Strategy of economic stabilization: role of state, public and owner's association

Chaldaeva L.A. Doctor of Economic Sciences, Professor, the Department of Economy and Crisis Management, the Financial University under the Government of Russia ( chaldaeva45@mail.ru )

Kilyachkov A.A. PhD of Technical Sciences, Senior Researcher, Manager of the Audit Department, "Ernst & Young" company ( AAKil@mail.ru )

Journal: Financial Analytics: Science and Experience, #33, 2013

The situation in economy of Russia is characterized as steadily stable. This condition needs constantly to be supervised and supported. Participants of this process are government bodies of management, public and enterprise communities. The sign of positive result of their joint actions is decrease in cases of fraud and corruption.


A feedback model and its use to describe the dynamics of economic development

Chaldaeva L.A. Financial University under Government of Russian Federation, Moscow, Russian Federation ( chaldaeva45@mail.ru )

Kilyachkov A.A. Department of Audit Services, EY Company, Moscow, Russian Federation ( AAKil@mail.ru )

Journal: Finance and Credit, #31, 2014

The article proposes a model describing the growth of economic development. The feature of the model is the existence of feedback (growth rates of economic development in the next year are a function of the growth rates in the previous year). This model allows to qualitatively describe all known economic development cycles (Kitchin and Juglar cycles, Kuznets swing and Kondratiev waves). The model validation on real economic data confirmed its principled applicability.


Model of the impact of fashion events in the economic results of the company

Chaldaeva L.A. Doctor of Economic science, professor of department Economy and Crisis management, Financial University under the Government of the Russian Federation ( chaldaeva45@mail.ru )

Kilyachkov A.A. PhD of Technical Science, senior research fellow, manager of department Audit, Ernst & Young company ( AAKil@mail.ru )

Journal: Financial Analytics: Science and Experience, #10, 2012

In the article the basic attention is concentrated to an influence estimation of image events on economic results of the company. The model describing influence of various events on these results is constructed. The way of the description of influence of image actions on investment appeal of the company is offered. The analysis of parameters of model at which this influence will be the most effective is carried out.


Residual risks monitoring

Chaldaeva L.A. doctor of economic sciences, professor, The Finance State University under the government of Russian Federation ( chaldaeva45@mail.ru )

Kilyachkov A.A. PhD in Technical Sciences, manager of company Ernst & Young ( aakil@mail.ru )

Dydykin A.V. Graduate student, Mordovsky State University named after N.P. Ogarev ( avdydykin@gmail.com )

Journal: Finance and Credit, #45, 2011

The residual risks mitigation method is proposed. The essence of the method is a monitoring of the residual risk and switching on preventive measures only if a red flag indicates its probability increase. Tolerance range of monitoring parameters was determined. This method is the development of the earlier proposed method and is management of residual risk due to the formation of a balanced portfolio of anti-correlated activities constituting a business process.


Model of competitive interaction in utilizing limited resources

Kilyachkov N.A. Graduate Student, the Department of Economics, the Moscow State Institute of International Relations, the Ministry of Foreign Affairs of the Russian Federation ( nkil@hotbox.ru )

Journal: Finance and Credit, #47, 2013

In the article it is noted that in connection with accruing exhaustion of natural resources and irreversible change of ecosystems big relevance is gained by a problem of optimization of the competition of the economic subjects using these resources. The model of the competition of two contractors for the limited reproduced resource, realized by an algorithmic method of "the cellular machine gun" is considered. In model possibility of use by agents in the activity not only resources, but also waste of activity of each other is provided. A model inspection on compliance to the main requirements to economic models is carried out, possible ways of its practical application are made.


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