Banks began to check Ukrainians about ties with the Russian Federation: what does it mean to people

The NBU Resolution of March 17 came into force, which obliges all Ukrainian banks to check, accumulate and transmit the regulator at the first demand information about individuals and legal entities that have financial relations with Russia. On Monday, March 20, the Resolution of the National Bank of Ukraine, which obliges all Ukrainian banks to check their clients on relations with Russia. It is about the decision of the regulator No. 26.

This means that banks, starting today, will check not only the customers (companies and individuals), but also their partners and counterparties on origin and contacts in the Russian Federation. The action applies even to translations between two individuals. It is enough for an enterprise or a person to transfer money to someone and the bank will already have to check whether the recipient is relevant to Russia.

The NBU Resolution also obliges Ukrainian banks to collect the maximum of information about each of its clients. As soon as the bank reveals some connection of the client's operation or his counterparty with Russia, a special dossier will be taken immediately. After that, each transaction will be checked twice and documented. We will remind, in early March in the NBU allowed volunteers to spend more money on military equipment.