The volume of card transfers has decreased by almost a third after the NBU imposed limits.

The National Bank has reported that after setting limits of 150 thousand hryvnias, the volume of transfers from card to card decreased from 250 billion hryvnias to 170 billion hryvnias per month.

Dmytro Oliinyk, Deputy Head of the National Bank, announced this during an open meeting of the temporary investigative commission on national security issues.

'This concerns transfers from clients who could not explain the purpose of the transfer and the source of the funds,' Oliinyk explained.

Currently, the NBU is developing a draft law on the creation of a register of drops, which will soon be submitted for consideration by the parliamentary committee. According to Oliinyk, the register will operate at least six months after the law is passed.

The regulator noted that a person who ends up in the register of drops will not remain there permanently and will have the opportunity to exit it. However, while a person is in the register, stricter limits on money transfers will be applied to them.

Analysis of the news

The National Bank stated that after setting limits on money transfers from card to card, the volume of such transfers has significantly decreased. This may indicate that the restrictions are effectively functioning and helping to control illegal financial operations.

The development of a draft law on creating a register of drops is also a step towards ensuring financial security. This register will allow for the identification of individuals who cannot explain the purpose of money transfers and the source of their origin. Such individuals will be under strict control and restrictions regarding money transfers.