From September 7, the National Bank of Ukraine introduced new requirements for financial monitoring for banks. Thus, banks are obliged to react if the client spends or receives more money than he indicated when filling out the questionnaire.
Each bank client, when applying for a card and then when updating information about himself, fills out a questionnaire in which he indicates his monthly income and the expected amount of payments on the card. As noted in the NBU press service, banks will be required to respond to cases where the declared amounts are less than the actual ones.
“An obligation has been established for banks to respond to cases where the maximum amount of financial transactions declared by the client is exceeded. This requirement does not apply to clients - individuals who carry out ordinary financial transactions in amounts and in volumes that have a rational justification,” the NBU notes.
The National Bank also added to the list of indicators of suspicion regarding the client’s financial transactions, namely, exceeding the maximum amount of financial transactions declared by the client by more than twice a month.
“In addition, clarification has been made to the procedure for banks to carry out due diligence on clients who are electronic residents (e-residents), in terms of identification and verification. The procedures for remote establishment of business relations by e-residents are also regulated,” the NBU notes.
