NBU Provides Banks With Recommendations On Financial Monitoring

On 5 March 2025, the National Bank of Ukraine published Letter No. 25-0009/16834 addressed to Ukrainian banks on providing recommendations on financial monitoring (regarding the provision, upon the request of the bank, of forged documents by clients), in which, in particular, it recommended that banks exchange information on the movement of funds on the accounts of a client in respect of whom there are suspicions of providing forged documents.

Thus, the NBU, among other things, proposed that banks add to the terms of the banking service agreement the client’s consent to disclose banking secrecy to another bank, including information on the movement of funds on the client’s accounts, or execute such consent in the form of a separate document.