The National Bank of Ukraine fined NovaPay (Nova Poshta Group) for over UAH 90 millioiin May.
The NBU has said this in a statement, the Ukrainian News agency reports.
In May, NovaPay LLC received a fine of UAH 90,658,967 for violating the requirements of paragraph 2 of part two of Article 8 of the Law on AML/CFT in terms of failure to fulfill the obligation to ensure proper organization and conduct of primary financial monitoring.
In addition, 2 written warnings were issued.
At the same time, Nova Poshta reported on Instagram that the fine will be paid on time in full, the company will not appeal it.
The NBU's remarks concern the improvement of the financial monitoring system for clients in order to prevent new fines or other types of punishments from the regulator.
As the Ukrainian News agency earlier reported, in April 2023, NovaPay received an extended license from the NBU, which allows it to open accounts for individuals and businesses, as well as issue cards.
And in 2022, NovaPay submitted documents for an EMI (Electronic Money Institution) license to the Central Bank of Lithuania.
After receiving it, the company can provide financial services in all countries of the European Union.
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