Limits on P2P transfers on weekends can be 100 thousand hryvnias and 30 transactions per month for one account.
The National Bank of Ukraine is preparing a draft decision on limiting card transfers and introducing maximum limits for card-to-card money transfers between individuals. This was reported by LIGA.net on Thursday, May 23.
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It is indicated that the limits for P2P transfers on weekends can be 100 thousand hryvnias and 30 transactions per month for one account.
The restriction will be based on the April decision of the National Security and Defense Council on the fight against illegal gambling. They intend to introduce it within a month.
“According to our calculations, 95% of bank clients will not notice these restrictions. At the same time, shadow payments to criminals who use individuals’ cards for, for example, tax evasion and criminal activity, will be more difficult and expensive,” said the Deputy Head of the NBU Dmitry Oleynik.
At the same time, the regulator does not plan to limit incoming transactions in order not to complicate the activities of, for example, volunteers. In addition, if there are grounds and evidence, the limits, as an exception, can be increased.
According to the National Bank, the volume of such shadow transfers can reach billions of Hryvnia. At the same time, the cards of individuals are used, deliberately giving attackers their personal data for this purpose. Then, through the cards of pensioners or students with a monthly income of several thousand hryvnias, non-standard payment transactions worth millions of hryvnias can be carried out every day.
Since the fall of 2023, the NBU has recorded an abnormal increase in the volume of P2P transfers through the system, as well as an increase in the number of cards used for such transfers and the average amount of the transfer from individual issuing banks.
In particular, one of the largest issuing banks sent information to the NBU about the detected declines (people, for a fee, give attackers/fraudsters access to their banking details: cards /account, including PIN codes and access to Internet banking) – this is more than 10,000 clients in October-December 2023 alone.
Another bank discovered more than 4,000 compromised cards during the same period.
So, according to CASE Ukraine analysts, the state loses, approximately, at least 100 billion UAH per year due to VAT schemes, counterfeit goods, the gray market of excisable goods, wages “in envelopes,” etc.
In the future, after changes in the law, it will be possible to create registers of cards used for such cards with similar operations.
Also, as part of the fight against shadow payments, the regulator plans to introduce requirements for financial companies to have an authorized capital, which will be linked to a percentage of transactions from the value of payments.
Earlier it was reported that the NBU planned to limit the withdrawal of money through self-service terminals. For this purpose, a decision was developed to limit card transfers and introduce maximum limits for cash transfers.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.