AUB News

On June 20, 2024, the Association of Ukrainian Banks held a meeting of the Committee on Compliance and Financial Monitoring of Non-Banking Financial Institutions, which discussed current issues of financial monitoring and licensing.

Important topics were raised at the meeting, in particular:

• Problems with verifying the validity of passports: The difficulties associated with using the services of the Ministry of Internal Affairs and the State Migration Service to verify the validity of passports, especially in the context of microcredit, were discussed. It was suggested to involve the National Bank of Ukraine to improve communication with the relevant authorities.
• Verification of documents: Participants emphasized the need to regularly verify the validity of passports at each client's request to avoid situations where a passport that was valid at the time of loan disbursement is later found to be invalid.
• Use of the Diia service: The Committee discussed the possibility of using Diia for document verification, which could be a more convenient and correct way to confirm the validity of clients' documents.

The Committee decided to set up a working group to support the preparation of requests and communication with regulators, including the National Bank of Ukraine, the State Financial Monitoring Service and the Verkhovna Rada. The participants agreed to continue working on the identified issues and to intensify cooperation with government agencies to achieve better results in the financial sector. The participants noted that regular discussions at the Committee on problematic issues are aimed at improving the processes of verification and financial monitoring, which will contribute to the efficiency of the non-banking financial sector in Ukraine