Business news from Ukraine

In October 2026, the National Bank of Ukraine fined “Credit Ukraine” Pawnshop LLC 2.747 million UAH for improper organization and conduct of initial financial monitoring. Additionally, the company received a written warning for violating foreign exchange legislation.
The regulator announced this on November 6 following the application of enforcement measures against financial market participants.
According to the NBU, the pawnshop failed to properly update its internal documents on financial monitoring and to develop procedures for effective risk management.
Furthermore, the institution committed violations during customer due diligence and the application of a risk-based approach, which involves determining the risk level of financial transactions and implementing appropriate control measures.
A separate violation concerned the failure to conduct proper due diligence on a customer who is a family member of a politically exposed person.
Under the law, such customers are subject to additional verification measures aimed at minimizing the risk of financial institutions being used to launder illicit proceeds.
The National Bank also found that the pawnshop had failed to properly fulfill its obligation to provide complete and accurate information and documents in response to the regulator’s requests.
In addition to the fine for violating financial monitoring requirements, the company received a written warning for failing to comply with certain requirements of foreign exchange legislation.
Specifically, this concerns transactions with non-resident individuals involving the granting and repayment of loans and the payment of interest in hryvnia without the required license from the National Bank.
Another violation was the improper maintenance of a register of transactions involving the purchase and sale of foreign currency in cash. According to the regulator, the forms of the relevant registers did not comply with established regulatory requirements.
The fine of 2.747 million UAH was the largest among the sanctions imposed by the NBU on non-bank financial institutions in October 2026.
In total, the regulator fined three non-bank institutions 3.563 million UAH during the month.
Lombard “Credit Ukraine” LLC is a participant in the Ukrainian non-bank financial market. For pawnshops, the main line of business is providing loans to individuals secured by movable property. Such institutions are subject to regulation and supervision by the National Bank of Ukraine.
Source: National Bank of Ukraine, press release dated November 6, 2026.