NBU wants to provide access to bank card numbers of Ukrainians: what will change

The National Bank of Ukraine wants to introduce new rules on the retention and disclosure of banking secrets. Therefore, on February 21, 2024, the state regulator invited the public to discuss future changes that would allegedly help improve the procedure for disclosing data.

What will change

The central bank outlined the main changes that may arise. This:

• the type of information that constitutes banking secrecy and which the NBU has the right to provide to the Individuals’ Deposit Guarantee Fund will be clarified;
• The list of data that constitute banking secrets and are disclosed by banks upon the request of authorized public institutions will be expanded;
• Clarifying the audits carried out by the Central Bank, in which banks are required to submit documents and copies of them containing information that constitutes bank secrecy.

These norms are contained in the draft resolution of the NBU Board of Directors “On approval of Amendments to the Rules on storage, protection, use and disclosure of bank secrecy.” It is stated that opinions and suggestions will be accepted until March 3.

If the new rules are adopted, banks will disclose the following information upon request of competent government bodies:

• availability of accounts;
• account numbers;
• information about unique identifiers and/or issue numbers
• means of payment;
• Account balance;
• debiting from accounts and/or crediting to accounts;
• purpose of payment;
• identity data of the counterparty (for individuals – surname, first name and patronymic, registration number of the Ukrainian taxpayer registration card; for legal entities – full name, identification code in the Unified State Register of Enterprises and Organizations);
• counterparty account number;
• information about the unique identifiers and/or numbers of the counterparty’s emission payment instruments;
• single identifier of the counterparty payment service provider National Bank of Ukraine;
• The name of the counterparty’s payment service provider.

“Amendments, Article 62, 62-2 of the Law of Ukraine on Banks and Banking Activities. It concerns the need to introduce the Rules and improve the procedure on the storage, protection, use and disclosure of bank secrets in accordance with its articles. due to the disclosure of information constituting bank secrecy to the National Bank of Ukraine” – emphasized the press service.

When and why are Ukrainians’ bank accounts subject to control?

Regulatory and law enforcement authorities may obtain data on transactions in citizens’ accounts in Ukraine in case of a court order. So, according to tax consultant Alexandra Tomashevskaya, the court usually makes such a decision if a person is suspected of crime, crime or corruption

“As for other institutions, we do not check, for example, the legality of the appointment or the intended use of social payments or subsidies,” he explained Focus.

Lawyers note that the confidentiality of bank accounts of individuals in Ukraine is regulated at the legislative level.

Important

According to Article 60 of the “Law on Banks and Banking Activities” of Ukraine, banks are obliged to ensure the confidentiality of their customers’ banking data. However, the bank may provide this information in cases stipulated by law. [государственным органам]”, said Nikita Murenko, managing partner of the law firm Murenko, Kuryavyi and Partners.

Let us remind you that it was previously learned that the Central Bank wants to limit card transfers by Ukrainians. Restricting money transfers is planned to affect entrepreneurs who do illegal business and do not pay taxes.