The Verkhovna Rada has supported legislative changes introducing limits on the number of bank cards that can be issued to a single individual. The initiative aims to combat “money mule” schemes—involving individuals who open cards en masse for use in fraudulent operations, illicit transfers, and money laundering. This information comes from “Pershyi Biznesovyi” and was reported by the PromPolitInform portal.
The bill proposes setting a maximum number of cards allowed per client and tightening identification procedures during card issuance. Banks will gain the right to refuse the issuance of a new card if an individual already holds an excessive number of accounts or falls into a high-risk category based on financial monitoring criteria.
The regulator emphasizes that “money mules” have become a key tool for cybercriminals, who use dozens of cards to obscure the origin of funds, fragment transactions, and complicate the work of law enforcement agencies. The new rules are intended to reduce the number of such cards and strengthen oversight of financial transactions.
Banks generally support the initiative but highlight the need for a centralized database that would allow for the rapid verification of the number of cards an individual holds across different institutions. The changes are also expected to influence customer behavior: some Ukrainians will be compelled to streamline their accounts and give up unnecessary cards.
It is worth noting that the adoption of these new rules will mark one of the most significant steps in strengthening financial monitoring in recent years. At the same time, the reform’s effectiveness will depend on the banks’ technical readiness and the coordination of the regulator’s actions.
