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Banks to be able to conduct financial monitoring of funds intended for one-off declaration in line with simplified rules – MP
KYIV. Aug 31 (Interfax-Ukraine) – Banks will be able to apply simplified rules for financial monitoring of funds intended for one-off declaration and rely on the client’s words regarding the origin of the resource, Head of the parliamentary committee on finance, tax and customs policy Danylo Hetmantsev has said.
"Monitoring is carried out by interviewing the client. A questionnaire is attached to the regulation on the special account… which is filled in according to the client’s words. You write, for example, that this is money that you have earned from your business. The bank does not conduct other checks. But, of course, it has for right to do this," Hetmantsev said during a press briefing in Kyiv on Tuesday.
As the MP explained, banks will be able to apply the simplified rules to clients with medium and low risk.
"If, for example, a bank has information that a person is a criminal, or there are court decisions against him, or a person is on the list of terrorists, this person can be checked by the bank. These are the so-called persons with increased risk. If a person belongs to medium and low risks, the bank draws up a document at the request of this person," Hetmantsev said.
According to him, the NBU recommended banks to use these rules for a one-off declaration.
"We understand that the rules are introduced as a lot of Ukrainians could apply. It is possible [to process] only if financial monitoring is carried out according to the simplified rules," Hetmantsev said.
