An important scientific task to deepen the theoretical and methodological principles, develop methodological approaches and develop practical recommendations for increasing the level of transparency of financial flows in Ukraine in the context of their de-shadowing is solved in the thesis. Theoretical provisions are systematized and the main provisions characterizing “transparency of financial flows” are formulated. The author's vision of the concept of "transparency" in the economic sphere is offered. The conceptual model of transparency is investigated. It is determined that transparency is based on three interrelated principles: the principle of disclosure (the amount of information provided and the degree of its availability to stakeholders); the principle of clarity (choice of media, context sensitivity, linguistic consistency, presentation, noise management and relevance to understand what is happening) and the principle of accuracy (the degree of accurate perception of information). The main features of transparent information, which include: clarity, reliability, completeness, materiality, relevance, efficiency, accessibility, systematicity, rationality, verifiability, have been clarified. The existing legal framework in Ukraine for the formation of the institution of transparency is analyzed. Typical instruments of money laundering used in Ukraine are described. Positive and negative features of shadowing of financial flows of the country are determined. Institutional factors of shadowing of financial flows are determined. The cumulative effect of factors influencing the level of the country's shadow economy is defined. The cumulative effect can be positive or negative. The role of transparency of financial flows in their de-shadowing is characterized. According to the experience of the world's leading countries, transparency reduces the volume of shadow transactions in the country through the introduction of an effective mechanism of anti-corruption legislation and institutions, new forms of impartial control by the state, open independent judicial system. The foreign experience of effective overcoming of shadow operations with financial flows of such countries as: Denmark, New Zealand, Finland, Singapore, Sweden, Switzerland, Norway, the Netherlands, Germany, Luxembourg is analyzed. The current state of the level of shadowing of Ukraine's financial flows, which is characterized as high due to the following reasons: inefficiency and inconsistency of the work of anti-corruption and law enforcement agencies; lack of legislative guarantees for the protection of whistleblowers; pressure on activists investigating corruption in the country has not stopped; insignificant role of the public integrity council in the process of checking the qualifications of candidates for the position of judges; unfavorable conditions for doing business in Ukraine; uneven investment in the regions of Ukraine; difficult tax administration; problems in obtaining bank loans and borrowings; unstable political situation in the country; over-bureaucratization of state institutions, etc. It is determined that financial institutions have begun to actively use blockchain technologies to create new business models, reduce costs and increase profitability and competitiveness. The main reasons for using the blockchain are potential cost reductions as a result of data quality optimization, transparency and internal control. However, when using new technology, it is necessary to carefully ensure the process of monitoring its implementation to minimize the risks associated with its development and which can be a potential threat not only to the financial security of the banking sector but also the non-banking financial sector. The impact of shadowing of financial flows on the components of financial security of Ukraine, which manifests itself in the form of: misuse of funds, low level of transparency of monetary policy of the NBU, illegal foreign exchange transactions, corrupt investment, shadow banking, lack of proper state supervision, criminalization of financial relations and households. The expediency of Ukraine's use of the international experience of deshadowing of financial flows provided by fiscal institutions of foreign countries, which will help increase the level of transparency of the national financial system, is substantiated. The directions of introduction of successful fiscal foreign experience of de-shadowing of financial flows of Ukraine as overcoming of differences with the leading countries of the world are offered. It is proved that maintaining the transparency of the business entity at a sufficiently high level is its competitive advantage, as it allows to adapt harmoniously to the changing financial situation in the country and the world, reduces the negative effects of systemic effects of financial market destabilization.
