A new law on financial monitoring has added the Ukrainians problems

The new Law of Ukraine “On prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction” gets people in the name of the law “on 5 thousand hryvnias”, he added, Ukrainians problems with large transfers and payments.

Новый закон о финмониторинге прибавил украинцам проблем

According to “the Country”, despite the fact that it’s been two weeks since the law came into force, by-laws and was not accepted. The reason for this was the lack of appropriate regulations of the National Bank of Ukraine.

According to the inner explanation of the Bank No. 25-0006/20068 on the development of regulations will take about 3 months, that is, they can appear on 28 July 2020. This document has been countersigned by the Deputy Chairman of the national Bank Oleg Churiy.

It is noted also that Churi explained the new rules of financial monitoring. Under the new law, the amount of which in Ukraine should start financial monitoring from UAH 150 thousand to 400 thousand UAH. That is, when making a payment in the amount banks have to find out from their customers the origin of the money in making payments for the sum more than 400 thousand UAH.

At first glance, everything is simple, but due to the lack of explanations and clarifications from the NBU customers of banks have problems, banks stopped their listings and blocked the money in the accounts.

“Do the banks, complaints were received due to locks. They were not widespread, but still recorded. When the lawyers appealed to the banks to solve the problems we face they said — we serve on the court. By court order all unlock”, is the managing partner of the attorney Association “Suprema Lex” Victor frost.

Lock accounts began due to the fact that after the entry into force of the new regulation on the financial monitoring, the national Bank did not cancel the old order. That is, the rate of financial monitoring of payments of more than 150 thousand UAH is still in force.

The NBU explained the situation the fact that by law they have 3 months to approve a new resolution.

Bank clients become hostages of the situation with the change of rules. They began to transfer the amount in excess of 150 thousand UAH, in the expectation that under the new law, those no longer subject to financial monitoring. The result was the stop of the transfer and blocking funds in the accounts due to the procrastination of the national Bank.

In the very same banks whose clients are blocked the account because of large remittances to comment on the situation yourself.

Therefore, lawyers advise the Ukrainians, who will not be able to quickly provide proof of the origin of the money, not to translations of more than 150 thousand UAH. Those to whom the account is already blocked, I propose to appeal decisions of the banks in the courts.

Lawyers believe that the law, which entered into force on 28 April 2020, the court finds above, the NBU regulations on the limitation of transfers in excess of 150 thousand UAH, but do not promise that such decisions will be taken quickly, because the judicial system in Ukraine is actually ruined.

It is expected that the courts will go or those who took a principled stand and will want to prove wrong the Bank and the NBU, or those who try to get a penalty.