The National Bank has fined RVS Bank 135 million UAH.

In December 2024, the National Bank imposed a fine of 135 million UAH on JSC "RVS Bank" for violating legislation regarding the prevention and counteraction of money laundering and the legalization of income obtained through criminal activities. This pertains to the failure to ensure proper organization and implementation of initial financial monitoring.

The regulator's press service reported this information.

The bank must also pay an additional fine of 50,000 UAH for not adhering to the National Bank's established procedures for conducting foreign exchange transactions. RVS Bank has also received a written warning for failing to meet the requirements for identifying transactions subject to financial monitoring and for not properly entering data into client questionnaires.

The bank is linked to former MP Ruslan Demchak. In 2018, the Antimonopoly Committee allowed him to purchase more than 50% of RVS Bank's shares. The committee also granted permission for Oleksandr Stetsiuk to directly acquire more than 25% of RVS Bank's shares and to gain control over the financial institution by obtaining shares from Demchak. Stetsiuk was previously an assistant to a member of parliament. He currently owns 99% of RVS Bank, while the remaining 1% is owned by Kateryna Ruslanivna Demchak, likely the daughter of the former deputy.

In April, the NABU announced a search for Demchak. He is suspected of abuse of power or office. Earlier, in August 2023, the former MP was notified of suspicion of aiding in stock market manipulation and the legalization of funds obtained through criminal means.

The National Bank fined JSC "AB Rada Bank" 2 million UAH for inadequate compliance with the bank's obligation to apply a risk-oriented approach in its activities.

JSC "MTB Bank" received two fines: 651,000 UAH for failing to identify the ultimate beneficial owner's affiliation with politically exposed persons and for inadequate compliance with the bank's obligation to apply a risk-oriented approach; 200,000 UAH for failing to fulfill the bank's obligation regarding foreign exchange supervision.

The regulator also took measures against twenty-five non-bank financial institutions for violations in the area of financial monitoring and currency legislation – imposing fines and issuing written warnings.

Background. Earlier, Mind reported that the court confirmed the legality of the National Bank's decision to revoke the license for providing financial services to LLC "FC Valta Group" and to remove the company from the State Register of Financial Institutions.