The National Bank of Ukraine intends to react harshly to the participation of banks in shadow business schemes, in particular those related to “business fragmentation” with the help of individual entrepreneurs. About this reported Deputy Chairman of the NBU Dmytro Oliynyk.
“The National Bank of Ukraine inspects banks regarding their compliance with the requirements of the law during customer service. During the inspections, unfortunately, we discover facts of conscious or unconscious involvement of banks in ensuring the implementation of financial transactions related to ‘business fragmentation’ using FOP”, — Oliynyk said during a meeting with business representatives.
He emphasized that this practice will not be tolerated and the NBU will continue to strengthen measures to prevent the use of banks in such schemes.
Oliynyk recalled that in November 2024, banks were given recommendations on identifying signs of “business fragmentation”, which may indicate attempts to evade taxes through formal division into several FOPs. Among such signs are common business addresses or typical transactions between a group of FPOs and one company.
He noted that these recommendations provide for the obligation of banks to inform the State Financial Monitoring Service in case of detection of suspicious transactions, as well as to make decisions regarding further cooperation with such clients.
“We have seen the result, because banks are actively denying FOP service and reporting their suspicious activity to the State Financial Monitoring Service.” – stressed Olijnyk.
In cases of violations by banks of legal norms during the service of FOP, influence measures are applied to them, and relevant information is transferred to law enforcement agencies.
