The National Bank of Ukraine (the NBU) performs compliance monitoring and surveillance to prevent money laundering in Ukraine’s banking system. We aim to strengthen the population’s confidence in Ukraine’s banking system.
The NBU is one of the authorities in Ukraine that conducts compliance monitoring.
Compliance monitoring is the activity of detecting illegal incomes and combatting the financing of terrorism (AML/CFT). The NBU establishes anti-money laundering requirements for banks and non-bank financial institutions and controls their compliance.
Banks and non-bank financial institutions perform compliance monitoring by verifying the identity of customers and analyzing their financial transactions. If suspicious transactions are detected, banks report them to the State Financial Monitoring Service and Ukrainian law enforcement authorities.
The NBU operates in accordance with the FATF Recommendations (International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation).