Financial monitoring reveals suspicious transactions worth UAH 62.5 billion
19 February 09:55
In 2023, the State Financial Monitoring Service of Ukraine (SFMSU) recorded UAH 62.5 billion in suspicious financial transactions. A total of 1,750,940 reports of financial transactions subject to verification were received. This was reported by "Komersant Ukrainian" with reference to Opendatabot.
In 2024, the State Financial Monitoring Service received 1.7 million reports on financial transactions subject to financial monitoring.
Of the reports received, 82% concerned threshold transactions, and 99% of the information came from banking institutions.
Based on the results of the inspections, more than 1,000 materials totaling UAH 62.59 billion were forwarded to the relevant authorities:
- National Police – 31% of cases (323 materials).
- The Security Service of Ukraine (SBU) – 27% (289 cases).
- The National Anti-Corruption Bureau of Ukraine (NABU ) – 15% (156 cases).
- The State Bureau of Investigation (SBI) – 11% (118 cases).
- The Tax Service received only 95 materials, which is 2.5 times less than in previous years.
- The Prosecutor General’s Office – 7% (71 materials).
- Intelligence agencies – 1 material.
The total amount of cases transferred to the National Police, the SBU and the NABU amounted to UAH 37.39 billion.
Dynamics of inspections and main trends
Over the past year, the number of reports received by the State Financial Monitoring Service increased by 23%. At the same time, the share of suspicious transactions increased from 5% in 2021 to 18% in 2023.
Since the beginning of the full-scale invasion, the number of cases referred to the SBI has increased significantly – 3.3 times more than in the pre-war years.
What are threshold and suspicious financial transactions?
Threshold transactions are those that exceed UAH 400 thousand and meet one of the risk criteria, in particular
- possible connection with terrorist or separatist financing;
- risk of falsification of invoices in foreign economic activity;
- significant amounts of cash in circulation;
- insufficient level of due diligence of public figures and their financial transactions.
Suspicious transactions are determined not by the amount, but by risk factors, such as inconsistency of financial activities of a person with his or her declared income, suspicious behavior, or lack of confirmation of the sources of funds.
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