National Bank of Ukraine reports tips law enforcers of suspicious transactions by customers of 18 banks in Q1 2017

In the first quarter of 2017, based on the findings of on-site and off-site supervision inspections, the National Bank of Ukraine reported to the law enforcement authorities about suspicious financial transactions carried out by customers of 18 banks, the NBU press service reports.

According to statistical reports on anti-money laundering issues submitted by banks to the NBU in the said period, banks reported to the State Financial Monitoring Service of Ukraine over 1.7 million financial transactions subject to financial monitoring, which was 37% more than in the same period last year, according to the report.

Financial transactions involving cash, as well as those carried out by persons assigned to the high risk group by banks, amounting to or exceeding UAH 150,000, are subject to financial monitoring, according to Ukrainian legislation.

As the regulator, the NBU verifies banks` compliance with AML/CFT [combating the financing of terrorism] laws and whether banks have taken sufficient measures to prevent illegal transactions (including by suspending and rejecting such transactions), the NBU press service wrote, quoting the director of the NBU financial monitoring department Ihor Bereza

In addition, the NBU closely cooperates with the law enforcement authorities and the State Fiscal Service of Ukraine, he said.

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