Regarding the implementation of the requirements of the legislation in the field of financial monitoring for the period of martial law (replacing the recommendations of 27.05.2022)

The State Financial Monitoring Service of Ukraine informs that in accordance with Clause 8 of Section I of the Law of Ukraine of 04.12.2024 No. 4116-ІХ, amendments have been made to the Law of Ukraine “On Protection of the Interests of Subjects of Reporting and Other Documents during the Period of Martial Law or a State of War” (which entered into force on 5 January 2025), in particular, Clause 1 has been supplemented with Subclause 11, which establishes that the requirements of this Law do not apply to legal relations regulated by the legislation of Ukraine in the field of prevention and counteraction to the legalization (laundering) of the proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.

In this regard, the reporting entities are obliged to submit information to the SFMS in compliance with the requirements of the Law of Ukraine “On Prevention and Counteraction to the Legalization (Laundering) of the Proceeds from Crime, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction” (hereinafter – the Law) in the manner prescribed by this Law.

At the same time, we draw your attention to the fact that in accordance with paragraph 4-1 of Section X “FINAL AND TRANSITIONAL PROVISIONS” of the Law, if the reporting entities located in the territories of active hostilities or territories of Ukraine temporarily occupied by the Russian Federation, which are included in the List of territories in which hostilities are (were) conducted or temporarily occupied by the Russian Federation, determined in accordance with the procedure established by the Cabinet of Ministers of Ukraine, are unable to fulfil within the established time limits the obligations stipulated in subparagraphs “b”-“d” of paragraph 8, paragraphs 9, 11, 12, 14, 23 of part two of Article 8 and part five of Article 9 of this Law, such reporting entities are exempted from liability for violation of the requirements of the legislation in the field of prevention and counteraction for the period until the end of hostilities or temporary occupation, provided that such obligations are mandatory fulfilled within one month (except for paragraph 23 of part two of Article 8 of this Law) after the date of the end of hostilities or temporary occupation. The reporting entity is obliged to implement the measures provided for in paragraph 23 of part two of Article 8 of this Law within six months after the date of the end of hostilities or temporary occupation.