NBU Simplifies Client Identification Rules in Banks

The National Bank of Ukraine has amended the Regulations on Financial Monitoring by Banks, expanding the list of tools for verifying individual clients. Commercial agents of financial inclusion banks are allowed to independently conduct identification and verification procedures. The following features apply when checking documents: it is permitted to present the original document through a third party or with the help of a bank employee if the client cannot do so independently; the client's consent for photo documentation can be confirmed by audio or video recording if it is not possible to provide a signature. The changes are implemented in accordance with the law on the development of financial inclusion. Banks have been granted the right to engage commercial agents who can identify beneficiaries and conduct citizen identification. The innovations aim to ensure access to financial services for vulnerable populations, including people with disabilities and residents of remote areas.

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.