The European Union is preparing common rules for checking customers of banks and other financial institutions, which will also apply to Ukrainians. The new requirements provide for clarifying citizenship details, checking sanctions lists, and monitoring virtual bank accounts. UNN reports this, citing the European Anti-Money Laundering Authority (AMLA).
Details
On October 1, AMLA announced the completion of the technical standards and the submission of the documents to the European Commission for approval. Their aim is to introduce harmonized customer verification procedures in all 27 EU countries.
In particular, financial institutions will have to collect information about customers’ citizenship, check them against sanctions lists while taking into account different spellings of names, and identify users of virtual IBANs and the accounts associated with them.
When will the new rules come into force?
According to AMLA, the standards are proposed to apply six months after they enter into force. Before that, the documents must be approved by the European Commission and published in the Official Journal of the EU.
For Ukrainians who already have accounts with European banks, this may mean providing additional clarification of their personal data. At the same time, information on existing customers will be updated gradually, depending on the level of risk.
The new requirements are part of a reform of the European anti-money-laundering system. The EU’s main regulation in this area is scheduled to apply from 2027.
The World Bank is negotiating with 30–40 countries on crisis assistance11.10.26, 09:33