Ukraine central bank to fine banks for laundering

A resolution which came into force on 21 June allows the National Bank of Ukraine to fine banks 0.01 per cent for every violation of banking legislation on money laundering. The government hopes that Ukraine will be excluded from the FATF blacklist in December this year.

Source: Interfax-Ukraine news agency

The National Bank of Ukraine will fine banks 0.01 per cent of their registered authorized capital for every violation of banking legislation on money laundering. This was envisaged by the Na

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