State Tax Service, National Bank of Ukraine and law enforcement agencies strengthen cooperation in identifying schemes for violating currency legislation

Press service of the State Tax Service of Ukraine, published 04 June 2026 at 12:30 Chapter: News

State Tax Service, National Bank of Ukraine, Prosecutor General’s Office, Economic Security Bureau, State Customs Service and State Financial Monitoring Service consistently develop cooperation to increase transparency of financial and foreign trade transactions, as well as ensure proper functioning of the financial system.

To establish proper coordination of work between the state authorities, increase transparency and exercise proper control over financial and foreign economic transactions of bank clients, the National Bank has improved information exchange and cooperation procedures between the National Bank, State Tax Service, Economic Security Bureau and State Customs Service. In addition, representatives of these state authorities regularly hold working meetings to further coordinate work on currency supervision in individual areas within the competence of each authority.

Effective interdepartmental interaction and information exchange help identify risky practices in the foreign economic activity of business entities and counteract unproductive capital outflow.   

National Bank, particularly, monthly transmits to the State Tax Service information regarding exceeding settlement deadlines and incomplete settlements, including regarding transactions of residents who are not bank clients, for use of the State Tax Service and for conducting relevant checks. Since January 2024, the list of indicators regarding which information is transmitted has been expanded, and since May 2024, the National Bank has been transmitting full information to the State Tax Service.  For its part, the State Tax Service, within limits of its powers, conducts due work on each individual fact and promptly takes measures provided for by the law. This specifically concerns accrual of penalty. All data received from the National Bank is analyzed in detail and accumulated to track possible connections between companies.  

Result of this cooperation was identification by the State Tax Service of the large-scale scheme signs related to the non-return of foreign exchange proceeds from export of business entities and risky foreign economic transactions regarding product import. In addition, the State Tax Service established numerous relationships between companies through common founders and managers, use of the same registration addresses, IP addresses and computer networks for reporting. Such signs may indicate organized essence of activities of certain groups of business entities and use of nominal managers to conceal real beneficiaries of transactions.

Based on the information provided by the National Bank and audits conducted by the State Tax Service, more than 70 billion UAH of penalty has already been assessed for violations of currency legislation in the foreign economic activity. In addition, analytical conclusions were prepared regarding 557 business entities regarding possible violations of tax legislation and money laundering signs. Materials were transferred to the law enforcement agencies for further processing within their competence.

“To prevent the large-scale schemes, tax control tools alone are sometimes not enough. Therefore, the State Tax Service, together with the National Bank, will continue to strengthen interaction and cooperation, including with the law enforcement agencies, in order to more effectively counteract shadow schemes and protect economic interests of Ukraine” – stated acting Head of the State Tax Service Lesya Karnaukh.

At the same time, the National Bank carried out effective supervisory actions over banks in terms of verifying their compliance with legislative requirements on financial monitoring and currency legislation servicing clients who had significant amounts of debt for export/import and non-receipt of foreign exchange proceeds/products to the territory of Ukraine. About 30 banks were inspected. Based on their results, banks were subject to significant fines. National Bank also provided banks with effective recommendations that encouraged them to improve their own organizational procedures and ensure their compliance with legislative requirements regarding financial monitoring and currency legislation. Issues identified during the supervision and information about suspicious transactions were transmitted to relevant law enforcement and government agencies (State Border Guard Service of Ukraine, Cabinet of Ministers of Ukraine, Economic Security Bureau, State Financial Monitoring Service).

“This case demonstrates that establishing proper coordination of work between the state authorities and improved information exchange between them is not a formal procedure, but effective tool for identifying complex schemes and protecting economic interests of the state. We pay special attention to monitoring compliance with currency legislation and cooperation with the state authorities in combating financial crimes. That is why the National Bank is strengthening cooperation with the state institutions within joint working formats.” – emphasized Head of the National Bank Andriy Pyshnyy.