the-nbu-proposed-to-ban-the-operation-of-cash-registers-that-are-not-equipped-with-video-control-systems

The NBU proposed to ban the operation of cash registers that are not equipped with video control systems

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The National Bank of Ukraine has submitted for public discussion a proposal to update the procedure for organizing cash work and protecting the premises of financial institutions. This is reported by the press service of the regulator, UNN reports.

Details

The NBU proposes to equip the premises of financial institutions where cash transactions are carried out with technological video control systems. These are banks and legal entities that have obtained a license to conduct cash transactions and are engaged in cash handling and storage activities.

The NBU notes that this measure will improve the quality of internal control - both on the part of banks and legal entities and the NBU - over cash operations. It will also help to improve the quality of internal control - on the part of banks and legal entities, as well as the NBU - over cash handling.

According to the report, this is to be done:

  • establish a ban on cash transactions in case of non-compliance with the requirements for the installation of technological video control systems;
  • determine the requirements for equipping premises with technological video control systems;
  • to regulate the procedure for providing the NBU's inspection team with video footage from technological video control systems, if they are implemented.

In order to enable banks and legal entities to properly prepare for the implementation of these requirements, a certain transitional period will be provided until the resolution comes into force after its adoption by the NBU Board.

The NBU noted that comments and suggestions to the draft are accepted until February 19, 2024, in a certain form.

НБУ опрацьовує питання про обмеження карткових переказів – Рожкова08.02.24, 18:15

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