Дайджест-Финансы ISSN 2311-9438 (Online) ISSN 2073-8005 (Print) , Larisa A. CHALDAEVAb,● 1 (2016) 39–46 Digest Finance Monetary System and Currency Circulation TECHNIQUES FOR IMPLEMENTING ANTI-MONEY LAUNDERING PROCEDURES Vladimir V. BEREZANSKYa , Anatoly A. KILYACHKOVc a Ernst & Young, Moscow, Russian Federation Vladimir.Berezansky@ru.ey.com b Financial University under Government of Russian Federation, Moscow, Russian Federation Chaldaeva45@mail.ru c Ernst & Young, Moscow, Russian Federation Anatoly.Kilyachkov@ru.ey.com ● Corresponding author Article history: Received 5 June 2015 Accepted 15 June 2015 Abstract Keywords: anti-money laundering, banking transactions, suspicious transactions, principle of algorithmic hierarchy, taxonomical approach Manipulating the banking system for purposes of money laundering is a relatively new phenomenon. <...> This problem was first identified in 1986 in the United States, when it was classified as a criminal offense. <...> Given the high-speed, digitized nature of banking transactions, the technology for countering money laundering should be no less sophisticated; and the speed of detecting suspicious transactions should be commensurate with that of the underlying bank transactions. <...> The Central Bank of Russia is now highly experienced in identifying mechanisms and schemes for money laundering. <...> Reviewing the typology of the Central Bank of Russia for suspicious transactions, we have categorized them as follows: multi-parameter, complex, dynamic and multivariate. <...> We also propose to supplement the principle of algorithmic hierarchy with a taxonomical approach. <...> Adapting our proposed taxonomic approach to formulating a typology of parameters characterizing suspicious transactions, in combination with the principle of hierarchical analysis, will create an effective and efficient algorithm for identifying suspicious money laundering transactions. © Publishing house FINANCE and CREDIT, 2015 Manipulating the banking system for purposes of money laundering is a relatively new phenomenon. <...> This problem was first identified in 1986 in the United States, when it was classified as a criminal offense. <...> Given the high-speed, digitized nature of banking transactions, the technology for countering money laundering should be no less sophisticated; and the speed of detecting suspicious transactions should be commensurate with that of the underlying bank transactions. <...> International organizations often use the following legal definition <...>