In the context of global financial instability, banks are becoming increasingly attentive to their clients. One of the main tools that provides control over financial flows is financial monitoring. It allows you to identify dubious transactions and financial risks. Regarding which transactions may questions arise in the bank? The Page told in detail, SPEKA shares key theses. The NBU has established about 70 indicators that should attract the attention of financial monitoring, they are divided into three groups – client behavior, financial transactions, bank products and services.
What can cause suspicion in a bank
Common reasons for checking client transactions:
inconsistency of transactions with the declared profile of activity or inability to explain the essence of business processes;
cancellation of a financial transaction immediately after the bank requests supporting documents;
excessive interest in the bank’s internal limits and financial monitoring procedures;
using the same IP address or identical ID device to access different clients’ accounts, suspicious activity from abroad.
All factors that may cause suspicion and additional verification to determine the source of funds
How to minimize risks?
It is not profitable for banks to block clients, but they must minimize risks to the NBU. Therefore, the clearer the client’s activities, the fewer questions they will have. Recommendations for clients:
inform the bank about changes in activities and income;
ensure the availability of primary documents (contracts, invoices) by the time the transaction is concluded;
; avoid general wording in documents;
synchronize tax reporting with turnover;
always respond to bank requests, silence is a reason for blocking..
In complex cases, you can seek help from a lawyer specializing in financial monitoring and banking law.
