Economy 2021-09-19T04:01:49+03:00
Ukrainian news
Rada Ups Amount Of Cash Transfers That Not Subject To Financial Monitoring By UAH 1 To UAH 5,000

Rada Ups Amount Of Cash Transfers That Not Subject To Financial Monitoring By UAH 1 To UAH 5,000

Rada, Verkhovna Rada, financial monitoring, cash transfers, amount of cash transfers

The Verkhovna Rada has increased the amount of cash transfers that are not subject to financial monitoring by UAH 1 to UAH 5,000.

315 MPs voted for the adoption of bill No. 5559 as a whole, with the minimum required 226, Ukrainian News Agency reports.

The document introduces amendments to Clause 8 of Part 18 of Article 14 of the Law of Ukraine "On prevention and counteraction to legalization (laundering) of proceeds from crime", which provides for financial monitoring measures in case of transfer of funds in cash within Ukraine in an amount not exceeding UAH 5,000, that is, UAH 4,999.

With the adoption of the law, the requirements of financial monitoring do not apply to cases of transferring funds in cash within Ukraine in an amount not exceeding UAH 5,000.

That is, the amount of the transfer of funds, which is not subject to financial monitoring, increases by UAH 1 to UAH 5,000.

As Ukrainian News Agency earlier reported, from April 28, 2020, due to the entry into force of the law "On Preventing and Countering the Legalization (Laundering) of Criminally Obtained Incomes, Terrorist Financing and the Financing of the Proliferation of Weapons of Mass Destruction", transactions with virtual assets are subject to financial monitoring.

The threshold amount for verification is UAH 30,000.

Until 2014, absolutely all banking transactions over UAH 80,000 were subject to mandatory financial monitoring.

Today this limit is UAH 150,000.


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