The NBU has clarified the rules for providing banking services to politically exposed persons
The National Bank of Ukraine has stated that banks should not take a rigid approach to serving politically exposed persons (PEPs), their families, and associated individuals, nor should they automatically classify them as high-risk clients.
This was reported by the National Bank of Ukraine.
The regulator emphasized that financial institutions should apply a risk-based approach when working with such clients. According to the NBU, excessive or unjustified restrictions on access to financial services contradict the principles of financial inclusion.
The National Bank also noted that if the risk level is low, there are no suspicions of money laundering or terrorist financing, and the accounts are used primarily for salaries or social benefits, banks are not required to request documents regarding the source of a PEP’s wealth. This rule also applies if the volume of transactions does not exceed 400,000 UAH per month.
Furthermore, if more than 12 months have passed since the termination of public duties and the bank has not identified any heightened risks, additional control measures should not be applied. This refers, in particular, to enhanced monitoring, verification of funds’ sources, and mandatory management approval for opening accounts.
As a reminder, earlier the National Agency for Corruption Prevention (NACP), in response to a request from UA.NEWS, officially confirmed that former Deputy Prosecutor General Dmytro Verbytskyi has the status of a politically exposed person (PEP). This means that all his financial transactions are subject to enhanced and indefinite monitoring by banks.
PEP (Politically Exposed Person) status is a key safeguard against money laundering. UA.NEWS journalists submitted this request to the NACP because Verbytskyi’s lavish lifestyle—estates worth $500,000, luxury Porsche cars, and expensive Birkin accessories—does not align with his official income.
As is known, Dmytro Verbytskyi was dismissed from the prosecutor’s office in the summer of 2024 following a series of investigations. Specifically, the investigations concerned the purchase of a house in the elite cottage community “Konik” at a price that was six times lower than market value in the documents, as well as the registration of luxury cars and real estate in the names of close associates, which may indicate the concealment of his actual wealth.
Earlier, the UA.NEWS editorial team sent a follow-up journalistic inquiry to the Khadzhibey (formerly Malinovsky) District Military Registration and Enlistment Office and the Odessa City Military Registration and Enlistment Office regarding Dmitry Verbytsky’s military registration.
