Ukraine Risks Missing Window to Pass Anti-Money Laundering Laws for European Payment Access
The bill would create a bank-account register and add whistleblower protections as lawmakers race to meet EU anti-money-laundering standards.
- On Tuesday, the Verkhovna Rada, Ukraine's Parliament, passed Bill No. 14327-d in its first reading with 249 votes, advancing efforts to join the Single Euro Payments Area and streamline European financial transfers.
- Joining the 41-country network could save Ukrainians $220 million annually in transaction fees, but officials must secure European Payments Council approval by December to meet EU standards taking effect July 10, 2027.
- Lawmakers reached a compromise to limit register access to three agencies: the Bureau of Economic Security, the National Agency for the Prevention of Corruption , and the Asset Recovery and Management Agency .
- Oksana Ihnatenko, managing director of the Center for Financial Integrity, said progress was 'largely driven by pressure from the EU,' though skepticism remains about the timeline for the second reading.
- Co-Author Olha Vasylevska-Smahliuk described joining SEPA as 'financial visa-free travel,' noting that Ukraine must align domestic anti-money laundering laws with European standards to qualify for membership.
14 Articles
14 Articles
Serhiy Marchenko called for the adoption of a law for Ukraine to join SEPA by the end of 2026. Otherwise, new EU rules could close that possibility.
MEPs have supported in the first reading the legislation needed to join the Single Euro Payments Area (SEPA).
The Council supported Ukraine's accession to the euro payment area - it should simplify transfers The Council supported two draft laws for Ukraine's accession to SEPA as a basis<p>. Euro transfers can get cheaper, and the monitoring threshold will increase to 550 thousand hryvnias</p>
Ukraine risks missing window to pass anti-money laundering laws for European payment access
Time is running short for Ukraine to pass the anti-money laundering laws it needs to join the Single Euro Payments Area (SEPA), a network that makes euro transfers faster and cheaper, as lawmakers remain divided over who should have access to bank account information.
Ukraine is preparing new rules for bank accounts and international money transfers. The Verkhovna Rada has taken the first step towards the country's accession to the European payment system SEPA.
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