On 30 March 2016, the Board of the National Bank of Ukraine issued Resolution No. 204 On Amendments to Some NBU Regulations on Financial Monitoring  (hereinafter Resolution No. 204) amending 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, Terrorist Financing,  and Financing of Proliferation of Mass Destruction Weapons.

This resolution, inter alia, has amended the Risk Assessment Report in the area of financial monitoring,  based on which the NBU assesses associated with the use of services rendered by banks to legalize (launder) the proceeds from crime,  finance terrorism and  the proliferation of weapons of mass destruction. In particular, the Report has been expanded to include additional data from banks.

Amendments prepared in consultation with the International Monetary Fund provide for putting in place risk-based instruments of on-site and off-site supervision in the area of anti-money laundering and counter-terrorist financing.

Resolution No. 204 enters into force on the day following its official publication.