The NBU's accession to the Memorandum on cooperation in
developing a mechanism for verifying information about the
beneficial owners (the "Memorandum") is quite logical and
even is expected according to the obligation of banks to identify
bank account holders. The regulator has repeatedly emphasized the
responsibility of the banks to conduct effective financial
monitoring, so the NBU's integration into the Memorandum's
membership is justified.
A set of measures should provide the ground to implement
amendments specified in draft law No. 9417 of 19/12/2018, which has
been considered by the Parliament and aimed at strengthening
accountability for violations of financial monitoring
requirements.
