The National Bank of Ukraine fined FC Phoenix LLC for 6.33 million hryvnia for improper organization and conduct of primary financial monitoring. According to the NBU website, FC Phoenix LLC is the operator of the City24 payment system.
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According to YouControl, FC Phoenix LLC owns the rights to the trademarks under which the City 24 network operates. The beneficiary of the company is Evgeniy Davydovich.
The National Bank indicates that the company improperly performed:
- obligation to comply with the rules of financial monitoring; the obligation to carry out due diligence on clients, in terms of failure to continuously monitor business relationships and financial transactions of clients, as well as impossible verification of clients; requirements for the application of a risk-based approach; requirements for reassessing client risks.
