The National Bank of Ukraine recommended that banks set a limit on card-to-card transfers (P2P, C2C) in accordance with the income of clients indicated in the questionnaires. This initiative is designed to strengthen financial monitoring and prevent illegal transactions.
Since October 1, the NBU has temporarily introduced a limit on such transfers in the amount of 150,000 hryvnias per month for individuals. This restriction will apply until banks improve their financial monitoring systems.
Deputy Chairman of the NBU Dmytro Oliynyk emphasized, that many banks and the National Bank are actively fighting against the use of “drops” — fraudulent schemes where people use fictitious accounts. However, according to Oliynyk, some financial institutions do not take sufficient measures to counter this due to the interest in increasing the client base, which creates risks for the system.
“We advise banks to agree at the association level that the main reference point for the application of limits is the confirmed level of income of customers, indicated in the questionnaire. And that the limits are set simultaneously throughout the market in order to avoid customers switching from one bank to another. Over the next month, we will start creating a register of compromised cards, then the register of “untrustworthy” merchants”, – said the official.
He also drew attention to the importance of controlling export-import transactions for the purchase of energy equipment and tracking the activities of FOPs that may evade paying taxes.
The NBU also clarified that the new limit will not apply to volunteers whose income exceeds 150,000 hryvnias, transfers between clients’ own accounts within the same bank, as well as transactions of legal entities using IBAN details.
This temporary restriction will be in effect for six months and its purpose is to strengthen control over financial transactions and prevent money laundering.
