NBU openly informs about sanctions to banks in Ukraine | News Flash
National Bank of Ukraine will inform the public on a permanent basis about:
legalization (laundering) of proceeds from crime;
violations related to the implementation of risk activity that threatens the interests of depositors or other creditors of the bank.
It means that the information, which was previously TOP SECRET becomes available to the public, which confirms the NBU Board Resolution adopted on August 25, 2016
The most common causes of violations of the new legislation is caused by:
subjective factor (negligence of bank employees)
improper setting bank software systems that they use for financial monitoring
purely formal approach of banks to fulfill the requirements of legislation in the sphere of financial monitoring in the part of risk management
However, starting with August 31st, the information about the measures applied to banks will carry out on a monthly basis. Information will be posted on the official website of the National Bank in the "Financial Monitoring" section.
Download our 2017 Guidelines for details about the statutory framework and local entrepreneurial environment in the Czech Republic, Hungary, Poland, Romania, Slovakia and Ukraine! We have prepared for each country: