Business news from Ukraine

In October 2026, the National Bank of Ukraine imposed a fine of 799,000 UAH on Artoa Financial Company LLC for violating financial monitoring regulations, specifically for inadequate customer due diligence, deficiencies in risk management, and violations of documentation procedures.
The NBU announced this on November 6, 2026, based on the results of its supervisory activities.
According to the regulator, the financial company failed to ensure the proper development and implementation of internal documents regarding the prevention of money laundering and terrorist financing.
In particular, deficiencies were identified in risk management procedures designed to prevent the use of financial services for transactions involving illicit funds.
In addition, the company improperly fulfilled its obligations regarding customer due diligence and the application of a risk-based approach.
Some violations concerned dealings with politically exposed persons, their family members, and associated persons.
In particular, the regulator identified instances of non-compliance with the requirement to obtain approval from the head of the financial institution before establishing business relationships with such clients.
The NBU also identified violations of the procedures for creating and maintaining client profiles and client lists.
According to the regulator, the company failed to ensure the retention of certain documents and information in client files for the periods specified by law.
In addition, the financial institution improperly complied with requirements regarding the submission of information in response to requests from the National Bank and the electronic reporting of internal audit results.
Among the identified violations were also shortcomings in the automation of generating standard responses for the regulator.
The fine of 799,000 UAH was the second-largest among the sanctions imposed in October on non-bank financial institutions. The largest fine in this segment, 2.747 million UAH, was imposed on the pawnshop “Credit Ukraine.”
In total, during October, the National Bank imposed sanctions on two banks and three non-bank financial institutions totaling 38.563 million UAH.
Artu Financial Company LLC is a participant in Ukraine’s non-bank financial sector, whose activities are regulated by the National Bank. Financial companies are required to comply with financial monitoring legislation, including requirements regarding customer identification, risk assessment, and document retention.
Source: National Bank of Ukraine, press release dated November 6, 2026.