According to Open4Business, in October 2026, the National Bank of Ukraine imposed a fine of 25 million UAH on the state-owned JSC “Sens Bank” for violating financial monitoring regulations. This is the largest fine among the five financial institutions against which the regulator imposed sanctions during the month.
As the NBU reported on November 6, the basis for the sanction was the bank’s failure to properly comply with requirements regarding the application of a risk-based approach and the conduct of due diligence on customers.
Specifically, the regulator found violations of the first and second parts of Article 7 of the Law of Ukraine “On Preventing and Combating the Legalization (Laundering) of Proceeds from Crime, the Financing of Terrorism, and the Financing of the Proliferation of Weapons of Mass Destruction.”
These provisions of the law require the assessment of risks associated with customers and financial transactions and the application of appropriate control measures depending on the level of such risks.
In addition, Sens Bank violated the requirements of paragraph 4 of part two of Article 8 of this law regarding the conduct of due diligence on customers.
Such due diligence involves, in particular, identifying and verifying customers, gathering information about their activities, and applying the financial monitoring procedures prescribed by law.
The NBU’s statement does not specify the particular customer transactions that served as the basis for the fine, nor does it specify the period during which the violations occurred.
In total, the regulator fined two banks and three non-bank financial institutions 38.563 million UAH in October. Sens Bank accounted for approximately 64.8% of the total amount of fines imposed.
Sens Bank is one of Ukraine’s state-owned banks. In July 2023, the bank became state-owned as part of the procedure to remove a systemically important bank from the market and subsequently nationalize it. The bank serves individuals, small and medium-sized businesses, and corporate clients.
Source: National Bank of Ukraine, press release dated November 6, 2026.
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