The NBU fined the bank “Concord” 1.55 million

The NBU fined the bank “Concord” 1.55 million

The National Bank of Ukraine (NBU) fined Concord Bank 1.55 million UAH for identified signs of risky activity in the field of financial monitoring.

The NBU fined Concord Bank 1.55 million UAH for identified signs of risky activity in the field of financial monitoring.

In addition, the NBU applied enforcement measures to Concord Bank in the form of a written warning for inadequate development, implementation, and updating of internal documents on financial monitoring issues; violations of the requirements for identification, verification, and due diligence of the bank’s clients, including the bank’s clients who are public figures, their close associates, or related persons; inadequate risk management and reassessment of client risks; and failing to detect a financial transaction subject to mandatory financial monitoring.