NBU slams $2.6 mln fine on banks over money laundering

The National Bank of Ukraine in 2017 applied to banks penalties worth a total of UAH 67.552 million ($2.59 mln) following audits in the field of countering legalization (laundering) of crime proceeds.

The sum is 7 times higher than it was in 2016.

According to the NBU, the regulator applied fines to 15 banks, including for conducting high-risk operations in the field of financial monitoring – to 10 banks for a total of UAH 64.220 million.

Read alsoUkraine not blacklisted after MONEYVAL checks – NBUMost of said "high-risk operations" were conversions of non-cash funds into cash, according to Ihor Bereza, chief of the NBU's financial monitoring department.

UNIAN memo. The National Bank of Ukraine in the first quarter of 2017 applied penalties worth UAH 12,142 million to 5 banks in the field of countering the legalization (laundering) of crime proceeds.

In 2016, fines were imposed on 28 banks for a total of UAH 9.321 million.