JSC ‘COMINBANK’ joined the Memorandum on transparency of the payment services market

On 17 December 2024, the Association of Ukrainian Banks (AUB) organised a meeting with top management of leading Ukrainian banks and financial companies to discuss joint steps to counter criminal schemes known as ‘drop schemes’. Particular attention was paid to strengthening the monitoring of financial transactions, improving market transparency and preventing the illegal use of Ukraine's payment infrastructure.

As part of the event, COMINBANK and 19 other Ukrainian banks joined the Memorandum on Ensuring Transparency of the Payment Services Market.

The meeting, organised by the UAB, was a continuation of the initiative launched on 10 December, when the Memorandum on Ensuring Transparency of the Payment Services Market was signed at the National Bank of Ukraine.

The participants of the event emphasised the need for the banking sector to join forces to effectively combat financial crimes that undermine the stability of the economic system. During the meeting, the participants emphasised the importance of self-regulation of the banking sector, stressing that the Memorandum is an effective tool for establishing common standards of transparency and responsibility. The bankers noted that voluntary compliance with the agreed principles will help avoid excessive administrative regulation, ensure effective control over risky transactions and strengthen customer confidence in the financial system. Self-regulation, as the participants emphasised, is an important step towards the stability and development of Ukraine's banking sector.