The National Bank of Ukraine (NBU) applied enforcement measures in July 2026 against two banks and 19 non-bank financial institutions for violating financial monitoring legislation. The largest fines went to Ukrainian Capital bank, which was fined more than 42.5 million hryvnias, and Raiffeisen Bank, fined 16.1 million hryvnias, according to the NBU website.
Most of Ukrainian Capital's penalty, 40.5 million hryvnias, was for deficiencies in organizing primary financial monitoring, client verification and risk assessment. A further 2 million hryvnias was for violations of currency supervision. Raiffeisen Bank was fined for inadequate client verification, risk management, failures in reporting transactions and failing to fulfill NBU requests.
Both banks also received written warnings, including for insufficient verification of clients linked to politically exposed persons, known as PEPs.
The two banks compared
Ukrainian Capital is a small Ukrainian bank with assets of 2.61 billion hryvnias, liabilities of 2.41 billion hryvnias and capital of 204.7 million hryvnias. Its ultimate beneficial owners are Serhii Bielashov, Liliana Bielashova, Daria Zlydar and Natalia Kyva.
Raiffeisen Bank is far larger, with assets of 267.1 billion hryvnias, liabilities of 224.8 billion hryvnias and capital of 42.3 billion hryvnias. Its ultimate beneficial owners are the European Bank for Reconstruction and Development and Raiffeisen Bank International AG.
Fines for non-bank lenders
Among the non-bank financial institutions, the largest fines went to FC Groovway LLC, fined 799,000 hryvnias; FC Krediplus LLC, which operates as FinX, fined 595,000 hryvnias; FC Forward Finance LLC, fined 459,000 hryvnias; and FC Royal Finance 1 LLC, fined 391,000 hryvnias.
PEP monitoring rules under scrutiny
On June 9, the Verkhovna Rada shortened the period of enhanced mandatory financial monitoring of politically exposed persons to 12 months from the date they leave office. Lawmakers added the amendment while voting on a law on taxing income from digital platforms, which President Volodymyr Zelensky has not yet signed because of it. The International Monetary Fund criticized the restriction on PEP monitoring, saying it was concerned about the Rada's action.
