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A.A., G., E.V., N., & P.Y., L. (2018). Development of a Process for Detecting Inconsistencies between Financial Statements and Financial Transactions (Deals) Aimed at Identifying Signs of Money Laundering. KnE Social Sciences, 3(2), 118-131. https://doi.org/10.18502/kss.v3i2.1533

https://doi.org/10.18502/kss.v3i2.1533

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authors

  • Garaschenko A.A.

    Garaschenko A.A.

    National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409
  • Nasonov E.V.

    Nasonov E.V.

    Counselor of the Department Accounting Office of the President of the Russian Federation, Moscow
  • Leonov P.Y.

    Leonov P.Y.

    National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409

Published Date

  • Feb 15, 2018

Development of a Process for Detecting Inconsistencies between Financial Statements and Financial Transactions (Deals) Aimed at Identifying Signs of Money Laundering

KnE Social Sciences / III Network AML/CFT Institute International Scientific and Research Conference "FinTech and RegTech" / Pages 118-131

Abstract

The problem of money-laundering is still valid in the Russian Federation. With the increasing role of the State in the economy, this question becomes particularly significant. Of course, monitoring of the funds movement plays a significant role, in particular, for companies, recipients of budgetary funds, including providers of the State Defense order (GOZ).

To date, there is no generally accepted method, which would allow a high degree of probability to identify signs of money laundering.

This article first describes how to detect signs of money-laundering on the basis of a comparison of the data of financial statements with bank operations data.

Elaborated process was tested on the example of relevant data of thirty businesses complying with orders under the contracts with the Ministry of Defence of the Russian Federation in 2013.

On the basis of the obtained results recommendations for the improvement of the elaborated process were formulated and the scope of its possible use was identified.

 

Keywords: money laundering, the process approach, fraud, financial reporting

 

References
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