In October 2026, the National Bank of Ukraine fined the state-owned Oschadbank JSC 10 million hryvnia for violating financial monitoring laws, specifically for inadequate customer due diligence, deficiencies in risk assessment, and failure to comply with requirements for providing information to the regulator.
This is stated in an official NBU press release published on November 6, 2026.
According to the regulator, Oschadbank failed to properly fulfill its obligations to apply a risk-based approach, as required by Article 7 of the Anti-Money Laundering Law.
In addition, the bank failed to ensure proper compliance with customer due diligence requirements under Article 8 of that law.
Separately, the National Bank identified violations of the procedures for providing information and documents necessary for conducting financial monitoring oversight.
Specifically, this refers to the bank’s failure to properly fulfill its obligation to provide, in a timely manner and in full, accurate information, conclusions, decisions, copies of documents, or relevant extracts upon the regulator’s request.
The NBU uses such materials to verify banks’ compliance with legal requirements and to establish the circumstances of possible violations.
Another violation involved entering information into customer questionnaires whose accuracy was not corroborated by documents held by the bank.
The regulator cited a violation of the requirements of the Regulation on the Implementation of Financial Monitoring by Banks, approved by NBU Board Resolution No. 65 of May 19, 2020.
The statement does not specify the number of customers affected by the identified violations, nor does it list the specific financial transactions that led to the imposition of the sanction following the audit.
Oschadbank’s fine was the second-largest among the enforcement measures imposed by the National Bank in October. The largest fine—25 million UAH—was imposed on Sens Bank.
In total, these two state-owned banks accounted for 35 million UAH, or approximately 90.8% of the total fines imposed by the regulator on five financial institutions.
Oschadbank is Ukraine’s state-owned universal bank, providing services to individuals, entrepreneurs, corporate clients, and the public sector. The bank operates in the areas of lending, deposit operations, payment services, and business financing.
Source: National Bank of Ukraine, press release dated November 6, 2026.
