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.