Electronic Money in the Sphere of Financial and Banking Crimes: Problems and Definition
Abstract
The purpose of this article is to analyze the existing definitions of electronic money, which are used in the financial and banking sector and the development on their basis of their own position towards disclosing crimes committed in the field of electronic banking and payments. This is due to the fact that the world banking system actively uses new elements for settlements and payments. Given the worldwide trend in the financial and banking sector to use new types of payments and their implementation between banks in the form of electronic means of payment and electronic money as its means of payment, Ukraine has also connected to these innovations. Legislative acts introduced the terms «electronic money» and «electronic means of payment». The legislator also carried out criminal and administrative responsibility for illegal actions with these bank means of payment, including these terms introduced in article 200 «Illegal actions with documents for transfer, by payment cards and other means of access to bank accounts, electronic money, equipment for their production» of the Criminal Code of Ukraine, Art. 1665 and supplemented by Art. 16314 «Violation of the order of operations with electronic money» in the Code of Ukraine on Administrative Offenses. In this electronic money in accordance with article 200 of the Criminal Code of Ukraine act as a subject of a crime. Therefore, the relevance of the topic is due both to its inadequate scientific development today and to significant practical importance for the activities to identify and uncover crimes committed in the field of electronic banking and payments. The information provided in this article will help law enforcement officers, in particular, counteract economic crimes, to understand the conceptual interpretation of this concept in more detail, which in the future will affect the effectiveness of disclosure and investigation of crimes in the field of electronic banking payments.
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