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Department of Financial Law, Faculty of Law, Comenius University in Bratislava, Slovak Republic

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Correspondent relationship of credit institutions vis-à-vis money laundering and terrorist financing

Yana Daudrikh

Financial Law Review, Issue 30 (2)/2023, 2023, pp. 32 - 48

https://doi.org/10.4467/22996834FLR.23.006.18344

This paper deals with the legal relationship between correspondent and respondent banks as part of a correspondent transaction. At the same time, the author analyses the performance of the due diligence on the respondent bank. In the last chapter, the author reflects on the existing application problems, supporting the currently growing trend of decreasing the number of new correspondent relationships. The primary objective of this paper is to establish, through comprehensive research on the existing legal regulation of correspondence relations at the European Union and Slovak Republic levels, a hypothesis regarding the interdependence between current application problems and the diminishing trend observed in new correspondence relations. Following scientific methods were used in this paper: the method of analysis and synthesis, method of abstraction, comparative method.

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Beneficial Owner Central Registry as a Tool to Fight Money Laundering and Terrorist Financing

Yana Daudrikh

Financial Law Review, Issue 24 (4)/ 2021, 2021, pp. 136 - 162

https://doi.org/10.4467/22996834FLR.21.037.15404

This article deals with the effect of the central registry of beneficial owners in terms of money laundering and terrorist financing. The main purpose of the article is to provide a comprehensive overview of the functioning of central registries of beneficial owners both at the national and European levels. The author focuses mainly on the issue of the European Central Platform as well as on the Centralized Registry of Bank Accounts. This article aims to confirm or refute the hypothesis that the current legislation is insufficient and that the established legal framework has certain gaps that may affect the original intent and goals of the central registry of beneficial owners. Within the application issues, we also deal in more detail with the question of whether the central registry of beneficial owners can be seen as reliable and whether it contains up-to-date information.

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