Alliance Bank Has Challenged the NBU’s Multi-Million Fine in Court: What We Know
17 June 15:42
Alliance Bank has filed a lawsuit challenging the fines imposed by the National Bank of Ukraine for violations in the area of financial monitoring. The sanctions, totaling more than 83 million hryvnia, were imposed on the bank by the regulator in 2025.
The National Bank stated that it will defend the legality of the imposed sanctions in court, according to "Komersant Ukrainian"
What Happened
The National Bank of Ukraine reported that Alliance Bank has challenged in court the regulator’s decision to impose sanctions for violations of financial monitoring legislation.
The violations pertain to requirements for preventing and combating the laundering of proceeds from criminal activity, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction.
The NBU emphasized that it will defend the legality of its decisions in court.
How much was Alliance Bank fined?
In October 2025, the National Bank imposed two fines on JSC “Alliance Bank.”
The first fine amounted to 67.575 million UAH. It was imposed for improper organization and conduct of initial financial monitoring.
The second fine was 15.9 million UAH. The bank received this fine for violating requirements regarding proper customer due diligence and the application of a risk-based approach.
The total amount of the two fines exceeded 83 million hryvnias.
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What the NBU Considered to Be Violations
According to the National Bank, the violations concerned the organization of initial financial monitoring, customer due diligence, risk management, and the documentation of the bank’s actions.
The regulator stated that the bank had failed to properly fulfill its obligations regarding:
- developing and updating internal documents on financial monitoring;
- managing risks associated with new products, technologies, and remote transactions;
- proper customer due diligence;
- applying a risk-based approach;
- providing accurate information and documents in response to requests from the NBU;
- documenting decisions and measures in the area of financial monitoring.
Separately, the NBU pointed out violations related to the verification of high-risk customers, as well as a case where a customer’s ultimate beneficial owner was a family member of a politically exposed person.
The bank also received a written warning
In addition to the fines, Alliance Bank received a written warning from the National Bank.
According to the NBU, the violation consisted of failing to include in the forms information whose accuracy was confirmed by documents held by the bank or copies thereof.
What is known about previous fines
Alliance Bank had previously been subject to NBU sanctions for violations in the area of financial monitoring. In 2024, the regulator fined the bank over 15 million UAH for violating legal requirements in this area.
In 2025, the sanctions became significantly more severe: in October alone, the total fines imposed on the bank exceeded 83 million UAH.
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