The National Bank of Ukraine moves ahead with implementing  the provisions set out in the Law of Ukraine On the National Bank of Ukraine into its legal and regulatory framework.  In particular,  with the aim of implementing Article 7 of the aforementioned Law, as well as the requirement of paragraph 4 of Article 14 of the Law of Ukraine On Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime, Terrorist Financing and Financing of Weapons of Mass Destruction, the Board of the National Bank of Ukraine passed Resolution No. 499 On Amendments to the Regulation on the Procedure for Organizing  and Conducting Inspections  in the Area of Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime, or Terrorist Financing (hereinafter –Resolution No. 499).

From now on, this resolution has established the rules governing the  supervision over the resident non-banking  financial institutions,   which are payment organizations and / or members / participants of the payment systems as to provision by them of a financial service to transfer funds under appropriate licenses, including licenses issued by the National Bank of Ukraine (except mail operators in terms of the transfer of funds). The resolution has, inter alia, settled an issue relating to  planning and conducting  inspections (including off-site supervision) in the area of financial monitoring of  non-banking financial institutions and their separate subdivisions.

In addition, Resolution No. 499 takes into account the processes of transformation and   reorganization of the system of the National Bank of Ukraine in terms of the centralization of the financial monitoring function.