On June 25 YouControl signed a memorandum of cooperation with the State Financial Monitoring Service of Ukraine. The main aim of this service is counteracting the legalization (laundering) of the proceeds of crime and the financing of terrorism.
Under the arrangement YouControl will provide employees of the State Financial Monitoring Service the access to its analytical system. Experts of the company will also participate in trainings of employees, round-table meetings and working groups held by the Service. In addition, joint preparation of researches and analytical materials is planned. For its part, the State Financial Monitoring Service will give recommendations for improving the YouControl system in those areas where it can be useful in the fight against economic crimes.
First of all the result of such cooperation and the exchange of experience should be increasing the transparency of the business environment in Ukraine and reducing the level of corruption. It will also become an important step towards expanding the range of information technologies used by state agencies in their work.
“The State Financial Monitoring Service is a critically important body for Ukraine’s economic security. Cooperation with it will enable us to make our own contribution to ensuring that as many national businesses as possible work fairly and without the “temptation” to use their revenues illegally. Open data and analytics collected in our system will help considerably faster and more efficiently analyze companies suspected of illegal economic activity. And our specialists will be glad to share their expertise on using YouControl with the State Financial Monitoring Service employees,” Sergi Milman, the founder and CEO of YouControl, said.
“To ensure public openness and partnership, we, under existing legislation, are primed for constructive and further efficient cooperation with YouControl. Joining efforts of public and private sectors with the aim of counteracting money laundering and corruption is our priority,” Ihor Cherkaskyi, the Head of the State Financial Monitoring Service, informed.
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