05 August 2022, Friday, 19:18 364

NBU Revokes Licenses Of 4 Companies That Cover 15% Of Cash Exchange Market

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Редактор: Daria Zubkova

The National Bank of Ukraine (NBU) revoked the licenses of 4 financial companies, that carried out currency exchange operations, for violating currency legislation. 2 more companies were fined.

This is stated in a message on the website of the National Bank of Ukraine.

Thus, the NBU canceled the licenses of the following companies for violating the requirements of currency legislation:

LLC Financial Company CONSTANTA M (Unified State Register of Enterprises and Organizations of Ukraine 42398871);
LLC DSD FINANCE (Unified State Register of Enterprises and Organizations of Ukraine 39656355);
LLC 24 ONLINE (Unified State Register of Enterprises and Organizations of Ukraine 39945438);
LLC FINANCIAL GUARANTEE (Unified State Register of Enterprises and Organizations of Ukraine 39730627).

The authority noted that these companies own more than 600 currency exchange points. They cover approximately 15% of the cash exchange market.

Besides, the National Bank fined 2 companies: Financial Company FINOFIS LLC (Unified State Register of Enterprises and Organizations of Ukraine 43473797) and 24 ONLINE LLC (Unified State Register of Enterprises and Organizations of Ukraine 39945438).

The authority said that the companies were fined for violating the laws "On preventing and combating the legalization (laundering) of income obtained through criminal financing of terrorism and financing the proliferation of weapons of mass destruction" and "On currency and currency operations."

The amount of the fine is UAH 151,000. In addition, written caveats were applied to these 2 companies.

The National Bank noted that the regulator has started unscheduled inspections of all structural subdivisions of institutions that have licenses to carry out foreign exchange operations on matters of compliance with the order of organization and trade in currency values in cash form.

As Ukrainian News Agency earlier reported, on July 29, the National Bank of Ukraine prohibited exchange offices from displaying currency exchange rate boards to prevent speculation and artificial rate increases.

During the previous week, the dollar exchange rate on the cash market increased by approximately UAH 3 and as of July 28 exceeded UAH 40 per dollar.