Measure
3.3.3.11.4.(4). Aligning bylaws with the Laws of Ukraine dated December 6, 2019, No. 361-IX On Preventing and Combating the Laundering of Proceeds of Crime, Financing of Terrorism, and Financing of Proliferation of Weapons of Mass Destruction, dated November 4, 2022, No. 2736-IX On Amendments to Select Laws of Ukraine Towards Protection of the Financial System of Ukraine Against Actions of the State Engaging in Armed Aggression Against Ukraine, and Adaptation of Ukrainian Legislation to Specific Standards of the Financial Action Task Force and the Requirements of EU Directive 2018/843, and EU Directive 2015/849
Measure status:
Actual execution date:
29.12.2023
The measure is aimed at achieving ESR:
3.3.3.11. Measures to prevent the laundering of money obtained through corruption are determined based on the results of risk assessment and are duly implemented. FATF recommendations are being consistently implemented
Problem solving:
3.3.3. The legislation governing the activity of the ARMA contains numerous gaps and corruption risks. Low effectiveness of the processes of transferring assets to ARMA for management to preserve their economic value, as well as the processes of combating and preventing money laundering
Deadlines:
Responsible implementors (authorities):
Sources of funding:
state budget
Volumes of financing (thousand UAH):
within the established budget allocations for the relevant year
Performance indicator:
The bylaw normative legal acts have been aligned with said laws and EU Directive 2015/849.
Implementing status
Progress/Result of implementation:
According to the information provided by the National Bank of Ukraine, in order to align the bylaws with the Laws of Ukraine dated December 06, 2019 No. 361-IX, dated November 04, 2022 No. 2736-IX and EU Directive 2015/849 (hereinafter referred to as the anti-money laundering area), the following normative legal acts were adopted:
- Resolution of the Board of the National Bank of Ukraine dated June 15, 2023 No. 74 On Amendments to the Regulation on Financial Monitoring by Banks approved amendments that require banks to use a risk-based approach when servicing politically exposed persons;
- Resolution of the Board of the National Bank of Ukraine dated June 21, 2023 No. 80 On Approval of Amendments to the Regulation on the Application of Enforcement Measures by the National Bank of Ukraine updated the approaches to imposing fines on banks for violations in the area of anti-money laundering and currency legislation;
- Resolution of the Board of the National Bank of Ukraine dated September 5, 2023 No. 108 On Amendments to the Regulation on Financial Monitoring by Institutions and Invalidation of Resolution of the Board of the National Bank of Ukraine dated December 17, 2021 No. 145 approved amendments that require institutions to use a risk-based approach when servicing politically exposed persons;
- Resolution of the Board of the National Bank of Ukraine dated September 05, 2023, No. 110 On Amendments to the Regulation on Financial Monitoring by Banks approved new requirements for financial monitoring by banks;
- Resolution of the Board of the National Bank of Ukraine dated December 29, 2023, No. 198 On Approval of Amendments to Certain Normative Legal Acts of the National Bank of Ukraine on Financial Monitoring, in order to implement the requirements of the Law of Ukraine dated October 17, 2023, No. 3419-IX, introduced relevant amendments to the Regulation on Financial Monitoring by Banks, approved by the Resolution of the Board of the National Bank of Ukraine dated May 19, 2020, No. 65, and to the Regulation on Financial Monitoring by Institutions, approved by Resolution of the Board of the National Bank of Ukraine dated July 28, 2020, No. 107.