The National Bank proposes to establish a ban on the operation of cash desks in institutions where video recording cameras will not be installed. This was reported by the regulator’s press service. For now, this is only a proposal that is being submitted for discussion.
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The regulator proposes equip the premises of financial institutions where cash transactions are carried out with technological video monitoring systems. We are talking about banks and legal entities that have received a license to carry out operations with cash and carry out activities for processing and storing cash.
“This will improve the quality of both internal control on the part of banks and legal entities, and control by the National Bank over the conduct of cash operations, as well as during inspections of banks regarding their compliance with legal requirements on issues of financial monitoring and currency legislation,” the message says.
For this it is proposed:
- establish a ban on performing cash transactions if the requirements for installing technological video control systems are not met; determine the requirements for equipping premises with technological video monitoring systems; resolve the issue of the procedure for providing the inspection group of the National Bank with video materials from technological video monitoring systems.
The National Bank plans to provide banks and legal entities with the opportunity to properly prepare for the implementation of these requirements; a certain transition period is envisaged before the resolution enters into force after its adoption.