Ljubovic: non-profit organization risk at the same level with the arms dealers and companies developing minerals

Photo: NBU / Flickr

New procedures for financial monitoring enables “at the request or under the order zagnobit any Bank”, wrote in Facebook on may 29, Director of financial consulting center, “omega-Profit” Eugene Ljubovic.

“The criteria of riskiness of operations for individuals, if they engage in any transactions, in addition to receiving salaries and payment of utility bills, do not give chance to be above suspicion. Criteria of riskiness of operations for legal entities will lead to significant growth in administration costs, mass blocking of operations and closure of accounts. To have money in Ukraine, as aptly remarked one of my colleagues, becoming suspicious, almost illegal,” – said the expert.

Прочитал новую инструкцию НБУ об осуществлении банками финансового мониторинга. Объем финансового мониторинга, который…

Posted by Evgen Lybovych on Friday, 29 May 2020

According to the new requirements of the NBU, the Bank’s employees must come from visits to production offices and retail outlets customers to make sure whether they are leading activities reported by the Bank, whether they have necessary for the activities of the property whether the volume of actual transactions turnover, emphasizes Ljubovic.

“Nonprofits at risk at the same level with the arms dealers and companies developing mineral resources. Accountants, it specialists, auditors, lawyers – worse non-profit organizations and Detcov with “Naftogaz”, – said the financier.

Suspicion can also cause regular transfers from abroad.

“By and large I am grateful to the NBU for the straightforward explanation that the Ukrainian banking system is better not to have Affairs, while the NBU will such leadership,” – emphasizes the Ljubovic.

NBU has published a new procedure of financial monitoring by banks may 21. The regulation was developed in connection with the entry into force on 28 April 2020 with the new requirements of legislation on financial monitoring. Banks should apply the new requirements: new customers – from the date of entry into force of the law (28 April); existing customers, during a routine check of their data.

The law “On prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction” was adopted on 6 December 2019.