The National Bank of Ukraine is finalizing the draft law on payment discipline, which provides for the creation of a special register of persons involved in financial fraud. About this reported Deputy Chairman of the NBU Dmytro Oliynyk.
The so-called “black list” will include citizens who used their bank accounts for money laundering, sold personal data or provided their bank cards to participate in fraudulent schemes. In addition to natural persons, the register will also include business entities whose activities have been found to be miscoding — incorrect coding of payments to hide the true nature of the activity.
“The creation of a register of persons who participated in illegal financial transactions will limit their opportunities in the banking system. At the same time, it will not completely exclude them from the financial system.” – Oliynyk explained.
The National Bank will be the administrator of the register, and payment service providers and banks will provide information for its filling. The new mechanism should strengthen the fight against financial fraud schemes in Ukraine. Special attention will be paid to the fact that the register will include not only persons who, due to life circumstances, were involved in fraudulent activities, but also those who knowingly sold their data or cards to fraudsters.
Oliynyk also noted that entering the register will have serious consequences for violators: it can worsen their credit history, make it difficult to find employment in the financial sector, and limit access to banking products. The National Bank expects that the new instrument will become an important component of the fight against shady schemes and increase the security of the financial system of Ukraine.
