The National Bank of Ukraine announced the imposition of fines on three banks and two non-bank financial institutions due to violations of financial monitoring requirements. The total amount of sanctions exceeded UAH 40 million. PrivatBank received the largest fine.
In November 2024, the National Bank of Ukraine imposed sanctions on three banks and two non-banking financial institutions for violating legislation in the field of preventing and countering the legalization (laundering) of income. The total amount of imposed fines exceeded UAH 40 million.
This was reported by the press service of the regulator.
PrivatBank received a fine of UAH 10 million for non-compliance with financial monitoring requirements, in particular, for insufficient verification of high-risk clients. In addition, the bank received a written warning for violation of internal risk management procedures, as well as failure to carry out additional checks regarding politically significant persons and their families.
"Alliance Bank" JSC was fined UAH 15.05 million for improper verification of high-risk clients, as well as for providing inaccurate information during the monitoring of business relations. JSC "Asvio Bank" received a fine of UAH 2.45 million due to non-fulfillment of the requirements for a risk-oriented approach in checking clients.
In addition, "Way for Pay" LLC was fined UAH 15.35 million for non-compliance with the requirements of primary financial monitoring, and UFG PJSC will pay UAH 255,000. UAH for violation of customer identification and verification requirements. All companies received written warnings regarding other violations in their activities.
We will remind you that the commercial court of cassation as a part of the Supreme Court of Ukraine put an end to the long-standing legal process regarding the appeal of the nationalization of PrivatBank.
