The National Bank of Ukraine has banned the provision of financial and payment services through online services, branches, and other resources operating under the Money24/7 brand, as it has identified evidence of a number of transactions being conducted without the required licenses.
According to the NBU, the decision applies to Money24.7 Agency LLC, Legion 1913 LLC, VAT 1913 LLC, “Trikotazhna Mosaika” LLC, “FU ‘GGLA’” LLC, Andriy Smirnov—whom the regulator identifies as the ultimate beneficial owner—as well as other individuals who operate through Money24/7 or are under its significant or decisive influence.
During its supervisory review, the NBU identified indications that the Money24/7 network was being used to provide services involving the trading of foreign currency in cash, the raising of funds and bank metals subject to return, as well as the transfer of funds without opening an account.
According to the regulator, the listed companies do not hold the necessary licenses to provide these services.
The exception is LLC “FU ‘GGLA’,” which holds a license to trade in foreign currency in cash and may continue to carry out this specific type of activity. The ban applies to other financial and payment services for which the necessary authorization is lacking.
The decision applies to the website money24.kiev.ua, the Money24/7 trademarks, Telegram channels and bots associated with the brand, other online resources, as well as a network of branded branches.
The NBU reported that, during its supervisory review, it identified legal and economic indicators of a connection between the companies and services. As a result, individuals operating through Money24/7 were classified by the regulator as providers of financial and payment services without the required authorization.
The NBU Board’s decision was adopted on August 17, 2026, upon the recommendation of the Committee on the Supervision and Regulation of Banking Activities and Oversight of Payment Infrastructure.
Money24/7 was already under the scrutiny of law enforcement agencies. In August, law enforcement officials notified the alleged organizer of the network—whose activities were investigated as part of a special operation in July—of their suspicion.
According to the Office of the Prosecutor General, the service positioned itself as a network of currency exchange points and a platform for transactions involving cryptoassets. Investigators claim that in some cases, after receiving funds from customers, the participants in the scheme failed to fulfill their obligations. These circumstances represent the investigators’ version of events and are subject to legal assessment by the court.
During more than 40 searches, law enforcement officials, according to the prosecutor’s office, seized cash in various currencies totaling more than 20 million hryvnias.
At the same time, the NBU’s current decision is a separate regulatory measure: it specifically concerns the provision of financial and payment services without licenses or authorization, rather than establishing the guilt of the network’s participants in the crimes alleged by law enforcement agencies.
