The National Bank of Ukraine has strengthened punishment for banks for violation of sanction legislation. Resolution No. 9, which came into force on February 4, provides for an increase in the maximum fine for non -compliance with the restrictions on sub -parties to 1% of the bank's authorized capital.
By February 1, the fine was only 0.01% of the bank's authorized capital, but now increased 100 times. For banks with the largest capital, such as state Privatbank (UAH 206 billion), this means a possible fine of up to UAH 2.06 billion. Small banks with capital of UAH 200 million can reach 2 million UAH.
The NBU requires banks to refuse services and close the accounts of persons who have reached the sanctions lists. The regulator has repeatedly stated that banks often delay requirements or have deficiencies in customer checking.
One of the biggest difficulties for banks is the rapid response to the renewal of sanctions lists. SCFM regularly updates the list of persons related to terrorism or subsancing activities, and banks should check customers for compliance with this list instantly, even during operations that take a few seconds.
In addition to strengthening sanctions, Resolution No. 9 provides for new penalties for:
- Failure to comply with financial monitoring rules (maximum fine - up to UAH 135.15 million).
- Lack of proper equipment in departments for persons with disabilities and other low -mobility groups (such as ramps, Braille fonts or relevant staff).
The NBU requires not only the technical compliance with the standards, but also to ensure the availability of financial services for all categories of the population.
Financies recognize that the NBU technical requirements are often difficult to fulfill on time, especially given the frequent updates of sanctions lists. However, the regulator insists that the strengthening of fines is aimed at increasing the discipline in the banking sector and ensuring the implementation of the legislation.
New rigid regulation will be a serious challenge for banks that are forced to adapt to increased requirements and avoid multimillion -dollar fines.
