NBU fines Poroshenko's bank for UAH 20.5 million

The National Bank of Ukraine (NBU) has fined the bank of the fifth President of Ukraine, Member of Parliament and leader of the European Solidarity party Petro Poroshenko for UAH 20.5 million.

This is stated in the NBU's message, Ukrainian News Agency reports.

JSC MIB [International Investment Bank] received a fine of UAH 20.5 million for violating a number of requirements:

- Clause 4 of Part 2 of Article 8 of the Law of Ukraine "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction", which consists in the bank's improper fulfillment of the obligation to conduct due verification of customers;

- Parts 1 and 2 of Article 7 of the Law "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction” in terms of the bank's improper fulfillment of the obligation to apply a risk-based approach in its activities;

- Clause 15 of Part 2 of Article 8 of the Law "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction” and Clause 79 of Section IV of the Regulation on the Procedure for Organizing and Exercising Supervision in the Field of Financial Monitoring, Currency Supervision, Supervision in the Field of Implementation of Special Economic and Other Restrictive Measures (Sanctions), approved by Resolution of the Board of the National Bank of Ukraine dated June 30, 2020 No. 90 (as amended) (hereinafter referred to as Regulation No. 90). The violation consists in the bank’s improper fulfillment of the obligation to submit (execute, certify) at the request of the National Bank reliable information and/or documents (conclusions, decisions, etc.), copies of documents or extracts from documents relating to the bank’s compliance with the requirements of the legislation in the field of the Law "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction” and necessary for the National Bank to exercise its supervision in the field of the Law "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction”, including for verifying the facts of violations of the requirements of the legislation in the field of the Law "On Prevention and Counteraction to the Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction”, within the period established in the relevant request of the National Bank.

As Ukrainian News Agency earlier reported, Petro Poroshenko owns 64.98% of the shares of the International Investment Bank through PJSC Closed Undiversified Corporate Investment Fund Prime Assets Capital.

On the evening of February 12, the National Security and Defense Council (NSDC) imposed sanctions against Poroshenko, as well as businessmen Ihor Kolomoiskyi, Hennadii Boholiubov, and Kostiantyn Zhevaho, a former member of the Verkhovna Rada, the godfather of russian dictator vladimir putin, Viktor Medvedchuk.

After that, the National Bank announced that it may deprive Petro Poroshenko of influence over the International Investment Bank.

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