The NBU explained that wanted to fine the Bank “Pivdenny” nearly 5 million hryvnias
The NBU explained that wanted to fine the Bank “Pivdenny” nearly 5 million hryvnias
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The regulator’s decision overturned the court.
A year ago the Bank was fined 4 million 880 thousand UAH, PJSC “JSB “Pivdennyi” – showed signs of risky activities in the sphere of financial monitoring, and also for violation of requirements regarding identification of Bank’s clients is a national public officials, their relatives and persons associated with them. This year, however, the court reversed the decision of the NBU on the penalty.
The national Bank, in accordance with article 60 of the EU Directive on prevention of the use of the financial system for money laundering and financing of terrorism decided to publish a scheme under which wanted to fine the “South”.
In 2017, the NBU has established the fact of shortfall in foreign exchange earnings by clients of the Bank “Pivdenny”, totaling more than 19 million U.S. dollars. This is due to the recalculation of Polish zlotys into dollars at non-market currency exchange rate, which was significantly less than the market cross-rate.
“Such a large shortage occurred as a result of the Bank’s clients-legal entities and export operations totaling approximately 22 million dollars. These operations were carried out in accordance with the conditions concluded with non-residents in foreign economic agreements (contracts) and was withdrawn by the Bank “Pivdennyi” of currency controls. Thus, changes in the above-mentioned foreign economic contracts counterparties the opportunity to make payments for the delivered goods in US dollars (as originally envisaged), and in Polish zlotys at the rate of conversion into U.S. dollars”, – noted in the NBU.
Therefore, 30 Dec 2015 23 Nov 2016 customers of the Bank received foreign currency proceeds for the above-mentioned export operations in PLN equivalent of approximately $ 3 million instead of 22 million dollars.
The national Bank announced that they are currently working on changes in the currency legislation in the future to prevent the use of fictitious exchange rates of currencies in the transactions of the Bank customers.
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