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.
