Last step before EU accession talks: Rada passes law on politically exposed persons

The corresponding draft law on amendments to the Law of Ukraine (No. 9296-d) "On Preventing and Counteracting to Legalization (Laundering) of the Proceeds from Crime, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" regarding politically exposed persons was adopted with 276 votes in favor.

"The main novelty: instead of three years after taking office, top officials (PEPs) will actually have lifetime PEP status. But at the same time, the draft law increases the responsibility of the subjects of primary financial monitoring (for example, banks) for unjustified denial of financial services to users," Yaroslav Zhelezniak, MP from the Holos parliamentary faction, posted on Telegram.

He noted that the document version approved for the second reading now met AML/CFT standards and would be regarded as meeting the IMF requirements. It is also the last step before starting the negotiations on Ukraine's EU membership.

As reported, politically exposed persons are natural persons who are national, foreign public figures and figures who perform public functions in international organizations.