Law against financial fraudsters: the Rada proposes to create a database of “drops”

Ukraine may create a special register of bank clients whose financial transactions will be subject to enhanced control. The document provides for the registration of individuals who provide their bank cards for use by others.

This is the draft Law No. 14161 “On Amendments to Certain Laws of Ukraine Regarding the Creation and Maintenance of a Register of Persons whose Payment Transactions Require Enhanced Control.”

According to Yaroslav Zheleznyak, a member of parliament from the Holos faction, the bill is aimed at combating financial crimes and fraudulent schemes used for money laundering or illegal activities. According to him, up to 200 billion hryvnias pass through the so-called “drops” in Ukraine annually, and the losses to the state budget amount to tens of billions.

Main provisions of the draft law:

The National Bank of Ukraine should create a register of persons whose transactions are subject to enhanced control;

banks and other payment service providers must enter into the register of detected drops and enterprises that used miscoding;

For such persons, limits on payment transactions and a restriction on the number of cards (for individuals) are provided;

Financial institutions should regularly check the presence of their clients in the register.

According to Zheleznyak, the bill allows you to move away from general restrictions on p2p transfers and introduce a more targeted approach for clients who are at financial risk.

As a reminder, the National Bank of Ukraine has appealed to the Ministry of Digital Transformation with an initiative to make it more difficult to automatically terminate the registration of individual entrepreneurs . The goal is to minimize the possibility of using individual entrepreneurs in schemes related to the sale of access to bank accounts.

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