NBU Introduces Control Over Users' Payment Operations

The National Bank of Ukraine intends to implement unified approaches to monitoring payment operations, including the monitoring and reconciliation of payments. A draft resolution on the procedure for control by payment service providers has been published. The document will define standardized requirements for banks and other providers regarding the organization of payment control, risk assessment, and response to atypical operations. The draft includes the fundamentals of control, requirements for organizing control, control measures, the possibility of involving third parties, the implementation of monitoring rules, evaluation of the effectiveness of control measures, measures to prevent miscoding, and signs of atypical user behavior. Measures against miscoding are also provided, where operations may be conducted with an incorrect merchant category code. The NBU plans to identify signs of atypical user behavior to improve the detection of operations that do not correspond to the client's usual activity. Previously, the NBU made changes to the procedure for issuing and acquiring payment instruments to enhance the transparency of operations and combat illegal schemes.

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