OREANDA-NEWS. Based on results of supervision over activities of PUBLIC JOINT-STOCK COMPANY "COMMERCIAL BANK "AXIOM" (hereinafter - CB "AXIOM" PJSC), PUBLIC JOINT-STOCK COMPANY "InterCreditBank" (hereinafter - InterCreditBank PJSC) and PUBLIC JOINT-STOCK COMPANY "MELIOR BANK" (hereinafter - MELIOR BANK PJSC) in terms of compliance with the law on Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime or Terrorist Financing (hereinafter - the legislation on financial monitoring), the National Bank of Ukraine has repeatedly revealed evidence confirming violation of the legislation on financial monitoring in their activities.

In the past few years, the above-mentioned banks have been held to account by the National Bank of Ukraine for violation of the legislation on financial monitoring on several occasions. In particular, during 2012 - 2014, the National Bank of Ukraine imposed sanctions against CB "AXIOM" PJSC for infringement of the above-said law on six occasions.

At the same time, the inspections of InterCreditBank PJSC, and MELIOR BANK PJSC carried out by the regulator in September 2014 revealed that these banks had conducted large-scale transactions with cash in national currency. Failure to take sufficient measures to prevent and counteract to legalization (laundering) of the proceeds from crime or terrorist financing paved the way for these banks to engage in risky activities.

Given the above, in order to protect the interests of depositors and other creditors of the Bank, in compliance with articles 15, 55 of the Law of Ukraine "On the National Bank of Ukraine", articles 73, 74, 76 of the Law of Ukraine "On Banks and Banking", NBU Board Resolution No. 346, dated August 17, 2012, (as amended), on October 9, 2014, the Board of the National Bank of Ukraine adopted a decision to include CB "AXIOM" PJSC, InterCreditBank PJSC, and MELIOR BANK PJSC in the category of insolvent banks.

The National Bank of Ukraine once again puts an emphasis on prohibition of banks' engagement in risky activities, in particular in the area of financial monitoring, and notes that the regulator is set to take action against those banks that fail to put an adequate risk management framework in place in the area of financial monitoring and assume risks related to the use of services rendered by the bank for legalization (laundering) of the proceeds from crime or terrorist financing. The sanctions imposed by the National Bank of Ukraine should be adequate to threats posed by risky activities of banks.