The largest fine of over 30.7 million UAH was imposed on the insurance company USG
In August 2026, the National Bank of Ukraine imposed sanctions on one bank and four non-bank financial institutions for violating legislation in the sphere of financial monitoring. The insurance company USG received the largest fine, exceeding 30.7 million UAH. This is reported by the portal PromPolitInform, citing information from the National Bank of Ukraine.
The sanctions were applied to the financial institutions due to non-compliance with legal requirements regarding the prevention and suppression of money laundering, terrorism financing, and the proliferation of weapons of mass destruction. The regulator identified systemic violations, particularly in the areas of customer due diligence and the application of a risk-based approach.
Fine for AB Ukrgasbank
State-owned Ukrgasbank was fined 17.6 million UAH. According to the National Bank, the financial institution failed to properly perform customer verification duties and ignored requirements regarding the application of enhanced due diligence measures for high-risk business relationship clients. Furthermore, the bank failed to provide accurate information to the regulator’s inquiries in a timely manner, which hindered supervisory functions.
Violations at PJSC SC USG
The largest penalty amount — 30,765,792 UAH — was assigned to PJSC SC USG. The identified violations cover the entire spectrum of internal financial monitoring: from the absence of updated internal documents to non-compliance with procedures for Politically Exposed Persons (PEPs). The company also failed to provide all documents requested by the regulator and made errors when preparing reporting data.
In addition to the significant monetary fine, a written warning was issued to the insurance company for improper adherence to statistical reporting rules during the special period. Currently, the regulator continues to exercise enhanced supervision over the activities of market participants who have failed to ensure an appropriate level of transparency in financial operations.
Photo: National Bank of Ukraine
