From December 1, 2024, Ukrainian banks will implement new rules of financial monitoring, according to which all transactions of individuals in the amount of more than 50 thousand hryvnias will be subject to increased control. This is part of the overall strategy to combat money laundering and terrorist financing, which comes into force in accordance with the new regulations established by the National Bank of Ukraine.
By the end of the year, the largest banks of Ukraine, which belong to the category of system banks, can begin to strictly monitor and check one-time transactions of people in the amount of 50 thousand hryvnias and above, if they are carried out with the deposit of cash into the account of a natural person.
This was reported by sources in financial circles with reference to relevant discussions at closed meetings at the NBU, which the regulator holds regularly every Friday with the involvement of the heads of the boards of 15 banks.
It was about the voluntary lowering by banks of the bar for financial monitoring from their current values to 50,000. hryvnias after depositing cash for this amount. According to the current official exchange rate of the NBU (41.24 UAH/$), 50 thousand UAH is $1.2 thousand.
We would like to remind you that according to the current legislation, mandatory financial monitoring in Ukraine starts with 400,000 rubles. UAH Information about them is automatically provided to the State Financial Monitoring Service, and banks strictly check such postings, finding out their purpose and sources of customer funds. At the same time, according to NBU Resolution No. 65, banks are required to check other suspicious/doubtful transactions of clients based on a large number of various signs. Their complete list is kept secret, but it is clear from public customer complaints that banks are now looking closely at transactions with signs of the purchase of cryptocurrency or illegal business activities (for example, when paying for goods and services on the card of an individual, and not an FOP), and also check once again, the initiators of transactions on the subject of activity drops - when the account is not used by its owner, but by a third party.
Banks pay attention to particularly active customers who conduct a large number of small transactions involving the transfer of funds or their enrollment (10-15 per day). And also according to its own monetary threshold of financial monitoring for each bank. This threshold is not fixed in legislation, and financial institutions are allowed to set it at their own discretion. In some banks, it is now 150-200 thousand UAH, and in others - 80-100 thousand UAH. From these amounts, the bank does not allow clients to freely send/receive funds to the account without explanation, and begins to ask clients additional questions about the origin of funds and the nature of operations.
Now banks are going to lower the bar for such financial monitoring to a single level of 50,000 hryvnias, if before the money transfers for this amount, the funds were deposited in cash. It doesn't matter exactly how - through the bank's cash desk or through a payment terminal.
The financiers said that the proposal/recommendation for 50,000 UAH received from the National Bank and was discussed at internal meetings of the NBU. For now, it is perceived as unspoken advice from the regulator, and has not yet been implemented. But it is possible that the 15 largest banks will eventually even sign a memorandum of cooperation, in which they will prescribe a threshold of 50,000 for enhanced financial monitoring. That is, the demand will be submitted as an initiative from below, and not an order of the NBU, although there is no final decision on this yet.
If it is accepted, the banks will begin the widespread implementation of the new criterion. Why will their internal systems, which automatically block suspicious operations of individuals, be rebuilt?
The only advice that can be given to Ukrainians in such a situation is not to hand over cards to third parties. If you often deposit cash on cards and make money transfers, then you should have accounts in several banks so that each of them does not record transactions of more than 25-30 thousand. UAH Then you will not draw attention to yourself from the financial monitoring department, which is in every bank.
Currently, the list of system banks includes:
1. Privatbank;
2. Oschadbank;
3. Sense Bank;
4. Ukrgasbank;
5. Ukreximbank;
6. Universal Bank (monobank);
7. FUIB;
8. Bank;
9. Raiffeisen Bank;
10. Credit Agricole Bank;
11. Ukrsibbank;
12. Credobank;
13. OTP Bank;
14. Southern Bank;
15. TASkombank.
