The Nationwide Financial institution of Ukraine (NBU) has acknowledged that Ukrainian banks usually are not allowed to subject the volumes of overseas foreign money seen in images from searches carried out by the Nationwide Anti-Corruption Bureau of Ukraine (NABU) as a part of Operation Midas.
Supply: NBU response to an Ekonomichna Pravda enquiry
Quote: "Since 24 February 2022, banks haven’t been allowed to subject purchasers money overseas foreign money in bundles of US$100 banknotes bearing the issuer's markings. NBU Board Decision No.18 of 24 February 2022 establishes restrictions on day by day money withdrawals from accounts throughout the interval of martial regulation in Ukraine: not more than UAH 100,000 per day could also be withdrawn from an account in money (the equal of round US$2,380 at as we speak's NBU price; a single bundle of US$100 banknotes accommodates a considerably larger quantity)."
Particulars: The restriction applies to each people and authorized entities, and banks are forbidden to bypass it. The NBU added that it screens compliance with these limits, together with throughout inspections.
Quote: "When violations are recognized, the NBU applies acceptable enforcement measures to banks. Fines could attain as much as 1% of statutory capital, and financial institution officers could face disqualification. Throughout inspections, the NBU examines any info that could be related for banking supervision."
Particulars: MP Yaroslav Zhelezniak beforehand claimed that state-owned Sense Financial institution could have been concerned in cash laundering linked to the corruption scheme in Energoatom procurements, and that Tymur Mindich – a determine within the NABU investigation – could have had affect over the financial institution.
In response to the NBU, Sense Financial institution was certainly among the many establishments that imported overseas money into Ukraine. Seven different banks additionally carried out such operations: Oschadbank, PrivatBank, Raiffeisen Financial institution, PUMB, Pivdenny, KredoBank and RwSbank.
In the meantime, the NBU mentioned it had not detected any anomalies within the volumes of foreign-currency withdrawals or circulation.
"Common evaluation of banks' reporting knowledge exhibits no irregular spikes in foreign-currency money withdrawals from consumer accounts that will require deeper evaluation or further supervisory measures," the NBU reported.
Background:
- Ukrainian anti-corruption companies have uncovered a large-scale corruption scheme within the power sector in Ukraine, co-organised by President Volodumyr Zelenskyy's affiliate Tymur Mindich.
- On 10 November, info emerged that NABU detectives carried out searches on the properties of businessman Mindich after which justice minister Herman Halushchenko.
- Sources instructed Ukrainska Pravda that Mindich fled overseas hours earlier than the searches.
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