Financial Monitoring and Counteraction to Fraund

Major: Finance, Banking and Insurance
Code of subject: 6.072.03.E.075
Credits: 3.00
Department: Finance
Lecturer: Professor Vitalii Rysin
Semester: 8 семестр
Mode of study: денна
Мета вивчення дисципліни: Covering the conceptual, theoretical-methodological, organizational-legal, and applied principles of financial monitoring by financial institutions, as well as the essence of financial frauds and the peculiarities of their manifestation in various spheres of economic activity, mastering practical methods of countering the criminal actions of fraudsters.
Завдання: GK01. Ability to abstract thinking, analysis, and synthesis. GK13. The ability to realize one's rights and responsibilities as a member of society, to learn the values ??of a civil (free democratic) community and the need for its sustainable development, the rule of law, and the rights and freedoms of a person and a citizen in Ukraine. SK05. Ability to apply knowledge of legislation in monetary, fiscal, and financial market regulation. SK07. Ability to prepare and analyze financial statements. SK08. Ability to perform control functions in the field of finance, banking, and insurance. SK10. Ability to determine, justify and take responsibility for professional decisions.
Learning outcomes: PR07. Understand the principles, methods, and tools of the state and market regulation of finance, banking, and insurance activities. PR12. Use professional reasoning to convey information, ideas, problems, and ways to solve them to specialists and non-specialists in the financial sphere of activity PR13. To have general scientific and special methods of researching financial processes. PR21. To understand the requirements for activity in the specialty, due to the need to ensure the sustainable development of Ukraine, and it's strengthening as a democratic, social, legal state. PR30. Diagnose the state of operational and investment activities of financial corporations and assess the prospects and risks of cooperation with them, carry out financial monitoring procedures.
Required prior and related subjects: prerequisites: Banking system corequisites: Financail infrasrtucture, Distribution of financail products and services
Summary of the subject: The discipline is aimed at forming students' knowledge systems on the theory and practice of financial monitoring and countering fraud in the financial sector. The tasks of the discipline are: • study of the theoretical foundations of prevention and countermeasures against the legalization of funds obtained through crime, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction; • study of methodological and regulatory and organizational aspects of state and primary financial monitoring; • formation of a knowledge system on the theory and practice of financial monitoring in a commercial bank; • mastering the practice of identification and study of bank clients, identification of financial transactions subject to financial monitoring, risk management of legalization of funds obtained through criminal means, financing of terrorism, and financing of proliferation of weapons of mass destruction; • mastering the methods of detecting and countering fraud in financial transactions, studying the latest forms of fraud that arise in connection with the development of technologies. The subject of the discipline is the relations that arise in the process of carrying out financial transactions and measures in the field of prevention and countermeasures against the legalization of proceeds of crime, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction. The study of the discipline is based on the fact that the student has basic knowledge in the field of money and credit, banking, finance, financial analysis, and state regulation of the financial sector.
Опис: The concept, essence, and main features of legalization (laundering) of proceeds from crime. World experience and international standards in the field of combating money laundering and terrorist financing. National system for preventing and combating legalization (laundering) of proceeds from crime or terrorist financing. National risk assessment of money laundering or terrorist financing and financing the proliferation of weapons of mass destruction. Organization of primary financial monitoring in financial institutions. Proper customer identification by financial institutions. Identification and registration of transactions subject to financial monitoring. Typical schemes of legalization (laundering) of income with the use of financial institutions. The risk-oriented approach in the field of financial monitoring. The essence and types of financial fraud. Combating fraud in the financial sector.
Assessment methods and criteria: Current control of the student's work (40%): • Test control; • Oral interview at seminars; • Discussion of practical cases of financial monitoring and development of recommendations for their solution; • Execution of an individual task (optional) and its defense; Exam Testing, oral interview.
Критерії оцінювання результатів навчання: In the process of study, the applicant must demonstrate active educational activity during the semester and, based on the results of the current control, score from 21 to 40 points. Mandatory types of current control work include: 1. Testing in the VLE, which is evaluated at a maximum of 20 points: Test for topics 1-4 – 4 points; Test for topics 5-9 – 4 points; Test for topics 10-11 - 2 points. 2. Work at seminar classes, and participation in the discussion of cases, and reports is estimated at a maximum of 10 points. 3. Execution of an individual task according to a separate option. An individual assignment in the discipline is performed by the student preparing a 3-4 page abstract of a report on one of the recommended topics. The student has the right to propose his topic for an individual assignment if it is related to the topic of the bachelor's qualification work or the place of practice. The individual task is evaluated in 12 points, of which 8 points are for the content and design of the task and a maximum of 4 points for the defense. 4. Completion of the control work, a maximum of 8 points. A student who has not completed all 3 mandatory types of work on time (before the beginning of the examination session) or has not scored 21 points from the current control is not allowed to take the examination. On the exam, the applicant can get a maximum of 60 points. The exam consists of a written and an oral component. The examination ticket consists of tasks of three levels, which are evaluated on a separate scale: The first and second levels – testing in the VLE, a maximum of 40 points (written component); The third level - 2 questions of a descriptive nature (maximum 4 points for each) and 2 questions of a problematic nature (maximum 6 points for each), the answer to which the applicant provides during the oral component. Taking into account the answers to the examiner's additional questions, the maximum score is 20 points.
Порядок та критерії виставляння балів та оцінок: It is regulated by the Regulations of the Lviv Polytechnic National University: Regulations on the Organization and Conduct of Current and Semester Monitoring of Students' Study Results (SVO LP 03.09) and Regulations on Rating Assessment of Students' Achievements (SVO LP 03.10). 100–88 points – (“excellent”) is awarded for a high level of knowledge (some inaccuracies are allowed) of the educational material of the component contained in the main and additional recommended literary sources, the ability to analyze the phenomena being studied in their interrelationship and development, clearly, succinctly, logically, consistently answer the questions, the ability to apply theoretical provisions when solving practical problems; 87–71 points – (“good”) is awarded for a generally correct understanding of the educational material of the component, including calculations, reasoned answers to the questions posed, which, however, contain certain (insignificant) shortcomings, for the ability to apply theoretical provisions when solving practical tasks; 70 – 50 points – (“satisfactory”) awarded for weak knowledge of the component’s educational material, inaccurate or poorly reasoned answers, with a violation of the sequence of presentation, for weak application of theoretical provisions when solving practical problems; 49-26 points - ("not certified" with the possibility of retaking the semester control) is awarded for ignorance of a significant part of the educational material of the component, significant errors in answering questions, inability to apply theoretical provisions when solving practical problems; 25-00 points - ("unsatisfactory" with mandatory re-study) is awarded for ignorance of a significant part of the educational material of the component, significant errors in answering questions, inability to navigate when solving practical problems, ignorance of the main fundamental provisions.
Recommended books: 1. Закон України «Про запобігання та протидію легалізації (відмиванню) доходів, одержаних злочинним шляхом, фінансуванню тероризму та фінансуванню розповсюдження зброї масового знищення» від 06.12.2019 N 361-IX. – Режим доступу: 2. Положення про здійснення установами фінансового моніторингу. Затверджене Постановою Правління Національного банку України 19.05.2020 № 65 (зі змінами і доповненнями). Режим доступу: 3. Міжнародні стандарти щодо боротьби з відмиванням коштів, фінансуванням тероризму та розповсюдження зброї масового знищення - рекомендації FATF 2012 року (зі змінами станом на жовтень 2020 року) – Режим доступу: 4. Рисін В. В., Степанова А. В. Інструменти протидії фінансуванню тероризму з використанням фінансових установ. Економіка та держава. 2020. № 6. С. 80–86. DOI: 10.32702/2306-6806.2020.6.80 5. Рисін В. В., Корначук О. Ю. Ризики залучення банків до схем відмивання грошей. Ефективна економіка. 2020. № 5. – URL: (дата звернення: 06.07.2020). DOI: 10.32702/2307-2105-2020.5.2 6. Рисін В. В., Карпець А. Р. Особливості новітніх способів відмивання грошей з використанням фінансових установ. Бізнес Інформ. 2021. №3. C. 132–140.
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Академічна доброчесність: The policy regarding the academic integrity of the participants of the educational process is formed on the basis of compliance with the principles of academic integrity, taking into account the norms "Regulations on academic integrity at the Lviv Polytechnic National University" (approved by the academic council of the university on June 20, 2017, protocol No. 35).