Zelensky signs law on politically exposed persons
Ukrinform reports this with reference to the Ukrainian parliament’s website.
The law envisages that instead of three years after taking the post, top officials will actually have the indefinite status of PEPs.
At the same time, the law increases the liability of the subjects of primary financial monitoring (for example, banks) for unjustified refusal to users of financial services.
It is noted that this version of the law complies with AML/CFT standards and will be considered as such that meets IMF requirements.
In addition, the adoption of the law is the last step needed to start negotiations on Ukraine's membership in the EU.
As reported by Ukrinform, on October 17, the Verkhovna Rada of Ukraine adopted in general amendments to the Law of Ukraine (No. 9296-d) "On the prevention and Counteraction to legalization (laundering) of the proceeds from crime, terrorism financing and financing of the proliferation of weapons of mass destruction” regarding politically exposed persons.
