Updated financial monitoring rules are being introduced in Ukraine, which expand the list of transactions and clients that will be subject to increased control. Regulators explain that the changes are aimed at strengthening the fight against money laundering, illegal schemes and financing of risky activities. According to the PromPolitInform portal, this is reported by “First Business“.
According to the new requirements, banks are obliged to check clients more often whose financial transactions do not correspond to declared income or differ sharply from the usual profile. Special attention is paid to large money transfers, frequent international transactions, purchases of expensive assets and suspicious cash transactions.
Separately, control is being tightened over entrepreneurs working in risky sectors, as well as over individuals who regularly change bank accounts or perform atypical financial actions. In such cases, banks may require additional documents to confirm the origin of funds.
As a reminder, experts note that the new rules may increase the number of requests from banks to clients, but at the same time will increase the transparency of the financial system. For most Ukrainians, the changes will be imperceptible if their transactions correspond to official income and do not go beyond standard financial behavior.
