Enforcement Discretion in Financial Law: Personal, Political, and Economic Special Sanctions in Wartime

Abstract

"The research aims to characterise the discretionary powers in financial law and to focus on the application of special personal and economic sanctions and combating criminal schemes, including legalisation (laundering) of the criminally obtained funds during the war. The study was conducted using comprehensive scientific and special legal methods of synthesis and analysis, formal logical and formal legal methods, and the comparative legal method. The research focuses on highly automated systems using the latest information technologies. The author examines the mechanism of combating financial crime in terms of improving the regulatory framework, institutional modernisation, and functional changes considering the experience of such countries as the USA, the UK, Germany, and Italy. Personal political and economic special sanctions are identified in Ukraine as an effective instrument of discretionary law enforcement. When deciding on the application of personal political and economic sanctions, legality, transparency, objectivity, proportionality, and effectiveness must be ensured. Decision-making on the application of sanctions must meet the requirements of legality, transparency, and objectivity. The research formulates and substantiates recommendations which may be used to improve legislation aimed at countering criminal schemes in wartime. These proposals can be used in further research, in the educational process, in the development of scientific recommendations, as well as in the practical activities of state authorities in application of discretionary powers and counteraction to criminal schemes during martial law."