The NBU decree of March 17 came into force and obliges all Ukrainian banks to check, accumulate and transfer to the regulator upon request, individuals and legal entities with financial ties to Russia.
On Monday, March 20, a decision of the Central Bank of Ukraine went into effect obliging all Ukrainian banks to check their customers for ties with Russia. We are talking about the decision of regulator number 26.
This means that from today banks will check not only customers (companies and individuals), but also their partners and counterparties for origin and contacts in the Russian Federation.
The decision applies even to transfers between two people. It is enough for a business or a person to transfer money to someone, and the bank will already have to check whether the recipient of the funds is related to Russia.
What data will banks collect about their customers and counterparties?
- information about citizenship;
- information about whether a person lives in Russia;
- whether a natural or legal person is associated with companies registered in the Russian Federation;
- whether the person or the addressee has a business registered in the Russian Federation;
- whether a person works in a Russian enterprise;
- whether the person has a business relationship with citizens of the Russian Federation or with Russian companies;
- whether the person owns securities of legal entities registered in Russia;
- information about the source of funds;
- whether a person transfers or receives funds/assets directly or indirectly in favor of the Russian Federation.
The NBU decision also obliges Ukrainian banks to collect as much information as possible about each of their customers.
As soon as the bank reveals a connection between the operations of the client or its counterparty with Russia, a special case will immediately be opened against him. After that, every transaction will be double checked and documented.
Recall that in early March, the NBU allowed volunteers to spend more money on military equipment. The Central Bank has expanded the list of goods that can be purchased abroad without restrictions with hryvnia payment cards.
We also reported that, according to the NBU, in January 2023, the volume of cash foreign exchange imported by banks into Ukraine in cash amounted to $803.4 million, an increase of $170.5 million compared to the previous year.
Source: Focus
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