Financial Monitoring: New Fines for Banks in Ukraine

In March 2025, the National Bank of Ukraine imposed penalties on six banks and three non-bank financial institutions for violations in the field of financial monitoring and currency legislation.

This was reported by the NBU press service.

Specifically, JSC "MIB" was fined 20.5 million UAH for improper execution of customer due diligence and inadequate application of a risk-oriented approach.

The violations of other banks also concerned deficiencies in customer due diligence, improper application of a risk-oriented approach, and non-compliance with currency legislation requirements.

AB "Pivdenny", in addition to the fine for financial monitoring violations, received an additional fine of 400 thousand UAH for improper execution of currency supervision duties.

JSC "Sense Bank" was fined 4.1 million UAH for improper execution of customer due diligence and deficiencies in applying the risk-oriented approach.

For systematic failure to submit reports regarding anti-money laundering and counter-terrorism financing (AML/CTF) in a timely manner, the non-bank financial institution PT "Sunlight Assets and Company" was fined 51 thousand UAH.

Reminder:

Ukraine must start preparing the capital market infrastructure for attracting private and international investments for post-war recovery.