EasyPay and City24 Fined Millions as Ukraine’s Central Bank Exposes Billion-Dollar Money Laundering Scheme.

Payment Terminal Operators Under Scrutiny

According to Novyny.live: Ukraine’s National Bank (NBU) has accused payment terminal operators EasyPay and City24 of laundering money. Following inspections, regulators uncovered a series of violations, including inadequate document verification and anonymous high-value transactions. Roughly $1 billion in cash flows through these systems each month, raising serious red flags about potential financial crimes.

According to the NBU, the companies failed to properly check customer paperwork, which may have enabled illicit financial activity. Anonymous transactions are capped at 5,000 hryvnias—a limit that still allows large sums to move without identifying the individuals involved. This loophole creates opportunities for handling money of unknown origin.

Lax Oversight and Its Fallout

Additionally, the central bank noted discrepancies between the number of recorded payments and surveillance camera footage. The network owners were slapped with fines totaling 270 million hryvnias for the infractions. Roughly 95% of all transactions processed through these terminals involve topping up personal bank cards—a statistic that underscores the critical need for tighter monitoring of financial flows. The NBU has vowed to keep a close watch on payment system operators to prevent further abuse.

This case highlights the urgent need for stricter oversight of financial transactions in Ukraine, especially given the persistent risks of money laundering.

The violations uncovered could have serious repercussions not only for the payment system operators but also for the country’s overall financial stability, unless adequate measures are implemented to improve control and prevent financial crimes.