Central bank opens unscheduled review of Sense Bank
The National Bank of Ukraine has launched an unscheduled inspection of Sense Bank over potential regulatory breaches. According to an announcement the NBU made on social media, the review will focus on three issues: how interference with the bank's automated system occurred, whether senior management gave staff unlawful instructions, and whether the lender followed financial-monitoring requirements.
Leadership questions and a faster sale process
The investigation goes beyond purely technical matters and also examines whether bank executives acted lawfully, according to available information. In a video address, Prime Minister Serhiy Koretskyi said the cabinet had ordered the Finance Ministry to accelerate the sale of Sense Bank, signaling how seriously the state views the situation. Meanwhile, the NBU's committee responsible for banking supervision and regulation determined that Mykola Gladyshenko, chair of Sense Bank's supervisory board, no longer meets the criteria for independence. NBU Governor Andriy Pyshny made this remark from the floor of parliament.
Pyshny stressed that ensuring compliance with financial-monitoring rules is an essential part of the review, while cautioning against drawing premature conclusions about the bank's broader systems.
“It would be premature to conclude that the bank’s financial-monitoring system itself was not working. On the contrary, the people involved in this case themselves admit that stronger regulatory and oversight mechanisms forced them to look for workarounds, including tampering with the bank’s operations and shutting down its automated systems.” — Andriy Pyshny
The developments have raised serious concerns both at the central bank and among government officials, underscoring the need for close vigilance over Ukraine’s banking sector. They also highlight how important transparency and rule compliance are for financial institutions, particularly in the current economic climate. For outside observers, the episode reflects the broader official push to strengthen bank governance and protect depositor interests.
As the situation develops, the leadership of Sense Bank has been suspended by the government amid ongoing investigations into allegations of money laundering. This adds another layer of urgency to the ongoing review by the National Bank of Ukraine. For more details on the government's actions and the implications for the bank's future, visit this article.