Banks will introduce limits on transactions for individuals on the “drop register”: NBU to determine

Banks and financial institutions in Ukraine will be required to apply limits on payment transactions for customers included in the new “drop register.” Inclusion in the register will also affect merchants by limiting their acquiring volumes. The draft law on the creation of the register, submitted to the Verkhovna Rada on October 28, aims to strengthen control over financial transactions that require additional monitoring.

Source — Minfin

Under the new rules, the National Bank of Ukraine will determine the limits that must be complied with by all service providers. This includes restrictions on the number of accounts, cards, and e-wallets for individuals and companies included in the register. The introduction of such rules will create additional difficulties for schemes involving “drops” and miscoding, thereby complicating the implementation of shadow financial transactions.

These changes will have a significant impact on the financial infrastructure, in particular reducing the attractiveness for unscrupulous merchants who were previously able to accept large volumes of “gray” payments without hindrance. Banks are now required to check their customers against the new register and take measures to restrict their access to financial services, with the aim of creating a more transparent and controlled environment in the financial market.