Security position and detection of unusual business operations from science and research perspective

Security aspects and detection of unusual business operations (UBO) is a continuation of the ever-increasing need to assure priorities in research and development, particularly in ICT, for all key scientific research institutions in the critical services sector in the European Economic Area. This creates a complex ecosystem of continuous research and innovation. Maintaining this continuity is critical for introducing innovations to meet the legal and security frameworks in the context of the ever-expanding financial market and economic growth that the European Union countries are committed to by important documents such as Directive 2005/60 / EC of the European Parliament and Council from 26 October 2005, Commission Directive 2006/70 / EC from 1 August 2006, national laws on protection against the legalization of proceeds of crime (in the Slovak Republic, this is Act 297/2008 Coll. of 2 July 2008 on protection against the legalization of proceeds of crime and protection against terrorist financing, including amendments supplements to certain laws), and protection against terrorist financing, as well as laws on the implementation of international sanctions. These legal frameworks represent high costs for the entire sector (e.g. obligated persons), especially in the implementation of automated procedures in the evaluation of unusual business operations amounting to more than EUR 3 billion only in the Slovak environment. In accordance with the above-mentioned legal regulation, the obligated person (duty to report UBOs) becomes anyone who carries out a non-standard financial operation.