TRANSFORMATION OF BANKS' SANCTIONS POLICY IN THE GLOBAL ENVIRONMENT AND FEATURES OF ITS IMPLEMENTATION IN UKRAINE

Abstract

The relevance of the study is due to the growing role of sanctions policy as a tool for regulating financial flows in the international economic environment and its integration into the activities of banking institutions. The purpose of the article is to identify modern approaches to the implementation of sanctions control in the banking sector of foreign countries and to substantiate the directions of its improvement in Ukraine. The research used a complex of general scientific and special methods, in particular comparative analysis, a systems approach, generalization methods, and regulatory analysis, which made it possible to assess the features of regulatory models and their functioning. The comparative analysis showed that the European model of sanctions control is characterized by a high level of institutional integration, systematicity and proactivity, which is ensured by a harmonized legal framework, effective information exchange mechanisms and widespread use of a risk-based approach. The results obtained indicate that the sanction policy of banks in countries with developed economies is characterized by a high level of institutional integration, the use of a risk-based approach, and the active use of digital analytical tools. It has been established that in Ukraine, sanctions control is at the stage of gradual transformation, which requires strengthening in terms of information interaction, transparency of beneficial ownership, and automation of monitoring processes. It is substantiated that the key limitations of the national model are fragmentation of information flows, insufficient level of automation of analytical processes, limited transparency of beneficial ownership, and insufficient integration of sanction risks into the financial transactions assessment system. The feasibility of harmonizing the national regulatory framework with international standards and implementing integrated approaches to risk assessment is substantiated. The practical value of the article lies in the development of recommendations for improving the sanctions policy of banks in Ukraine by adapting effective foreign practices and modern financial analysis tools, which will contribute to increasing the effectiveness of the national sanctions regime and strengthening the financial security of the state.