INTERNATIONAL STANDARDS IN THE FIELD OF COMBATING ECONOMIC CRIME

Abstract

The article analyses the significance of international standards in combating economic crime, which, in the context of globalisation of economic processes and their transnational nature, acquires particular urgency, causing the need for unified approaches, legal coherence between states and effective mechanisms of international co-operation to neutralise threats that go beyond the boundaries of individual jurisdictions. It has been determined that economic crime, in particular money laundering, terrorist financing, corruption and trade in illegal goods, actively uses discrepancies and gaps in the legal systems of different states. It is widely accepted that international standards serve as the universal legal and regulatory foundations for the integration of these systems into national legal frameworks. This ensures the establishment of a unified, coordinated front in the global and national efforts to combat economic crimes. A study of the impact of the full-scale war unleashed by Russia against Ukraine on the intensification and transformation of the nature of economic crime in the country has been carried out. It is particularly noteworthy that fraud has emerged as the predominant form of criminal activity, reflecting the adaption of criminal elements to wartime circumstances and the exploitation of the vulnerability of the population in such contexts. It has been determined that crimes committed within the sphere of official activities, in addition to bribery, persist as a considerable problem. This has had a profound impact on the trust of international partners, thereby creating a significant challenge. It should be noted that the overall level of economic crime remains significantly higher than before the war, indicating the persistence of this threat and the urgent need for constant efforts to combat it. A comprehensive analysis was carried out of the regulatory framework of international standards, consisting of acts developed by leading international organisations, which form a comprehensive approach to combating phenomena such as money laundering, terrorist financing, corruption, and other economic crimes. It has been determined that international standards, such as the conventions and recommendations of international groups, act as 'road maps' for states. They influence the harmonisation of national legislation by obliging countries to criminalise certain acts and introduce similar regulatory measures for financial and non-financial institutions. International standards also serve as a guide for reforms, as compliance with them is a prerequisite for countries seeking to integrate into international communities, thereby stimulating domestic legislative changes. It is emphasised that harmonising national legislation in accordance with international standards is a necessary prerequisite for strengthening international co-operation and increasing the effectiveness of combating economic crime at the global level. It has been demonstrated that enhancing the efficacy of global law enforcement can be accomplished through the harmonisation of procedures and requirements. This integration facilitates and expedites the processes involved in the provision of legal assistance in criminal cases, including extradition and the exchange of evidence. It is imperative to acknowledge that international standards constitute a pivotal component of the global architecture for countering economic crime. These standards serve to unify national approaches, thereby ensuring the requisite coordination and interaction between states. This, in turn, facilitates an effective response to the dynamic challenges prevalent in this domain. Moreover, the systematic integration of these standards into national legislation serves to fortify the institutional capacity of the state. It also fosters enhanced trust from international partners and establishes a legal environment that is conducive to effectively addressing economic challenges.