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02.01.2018 | 11:32
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NBU imposes sanctions

In December, NBU applied sanctions against 6 banks for financial monitoring violations

In December, the National bank imposed sanctions against 6 banks, in particular, written notifications and 1 fee for failure to comply with AML/CTF legislation. 

Namely, the NBU imposed UAH 35 thousand fee on Bank ¾ for violation of procedures to reveal reported financial operations. 

The NBU sent written notifications to the mentioned bank and SEB Corporate Bank, TAScombank, Vernum Bank, Oschadbank and VTB Bank.

Core violations are improper development and upgrade of internal documents for financial monitoring, infringement of procedures to reveal reported financial operations and failure to submit necessary information to the National bank. 

It's noted that SEB Coprporate Bank, TAScombank and Bank ¾ used software that doesn't allow to detect automatically and suspend financial operation before its execution, if necessary.

In general, the NBU basing on the results of inspections to prevent money laundering imposed sanctions on 40 banks - 37 written notifications and 15 fees to the total amount of UAH 67.6 million, which were paid in full. 

In one case, the regulator had to stop some bank's operations, according to the announcement. 

References in the article: sanctions, banks, bank, nbu, financial monitoring, violation, fee, warning
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