😱 Ukraine🇺🇦: The National Bank Tries to Remove Limits on Card Transfers

😱 Ukraine🇺🇦: The National Bank Tries to Remove Limits on Card Transfers

This applies to the limit on outgoing card-to-card transfers, which is currently set at 150,000 UAH ($3,621 USD).

➡️ First, for this to happen, banks must prove they can independently identify high-risk clients. Most institutions have already signed a memorandum that took effect on February 1. However, the main tool against fraud remains KYC.

➡️ When? ⁉️ The changes are expected to take effect in one to two months. From the outset, the National Bank has emphasized that these restrictions are temporary and, on their own, cannot solve the issue of mule accounts. A broader approach is needed, including a proposed bill to establish a mule account registry, which the regulator strongly supports.

➡️ Second, new restrictions came into effect on February 1. Notably, clients classified as high-risk are now subject to a 50,000 UAH ($1,207 USD) transfer limit.

#news #Eastern_Europe #p2p

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