UKRN CB Bank Video Control Systems


On May 3, UKRN CB updated procedure for bank video control system.


  • UKRN CB updated procedure for organizing cash operations and protecting premises of financial institutions and obliged financial institutions to equip the premises where cash operations are carried out with technological video control systems.
  • Follows UKRN CB Feb. 2024 proposed to update premises security, see #200776.
  • Key Points
  • The procedure applies specifically to banks/legal entities that have received a license to carry out transactions with cash, and are engaged in processing/storage of cash.
  • Regulations introduced to enhance internal control by banks and legal entities and oversight by UKRN CB on cash operations and compliance with currency legislation.
  • Ban on cash operations for non-compliance with video system requirements, with exceptions for transactions such as tax payments/receiving cash in conflict zones.
  • Requirements ew set for equipping premises with technological video control systems to improve security and the procedure outlined for providing UKRN CB inspection groups with video materials from video control systems during inspections.
  • Effectiveness
  • The updates are established by res 50 On Amendments to Certain Regulatory Acts of UKRN CB on Cash Circulation in force from Nov. 3, 2024.

Regulators UKRN CB
Entity Types Bank; MSB
Reference PR, 5/3/2024; Res 50, 4/30/2024;
Functions Compliance; Financial; Operations; Reporting; Risk; Technology; Treasury
Countries Ukraine
Category
State
Products Banking; Custody; Deposits; Payments
Regions EMEA
Rule Type Final
Rule Date 5/3/2024
Effective Date 11/3/2024
Rule Id 210684
Linked to Rule :200776
Reg. Last Update 5/3/2024
Report Section International

Last substantive update on 05/08/2024