NBU explains the origin of dollars in the Midas case: why cash is illegal

According to hvylya.net: The National Bank of Ukraine reported that during the 'Midas' operation, packages with dollar bills could not be issued to clients legally. This is explained by the fact that banks have been operating under strict currency restrictions for over four years, making it impossible to issue large sums of cash.

Restrictions on cash withdrawal in banks

Since February 24, 2022, all financial institutions have been limited to a payout of 100 thousand hryvnias per day in equivalent foreign currency, which is approximately 2.38 thousand dollars. Such restrictions do not allow for the withdrawal of large amounts of cash; therefore, sealed bundles of dollar bills that law enforcement may display cannot be legally issued.

Responsibility for violating currency restrictions

The NBU emphasized that all citizens and businesses must adhere to currency restrictions, and any attempts to circumvent them will be punished. The regulator analyzes not only financial documentation during inspections but also public data to identify potential violations. In case of violations, various sanctions are applied, ranging from fines to disqualification of individuals.

The issue of violations of currency regulations has gained increasing discussion following statements by MP Yaroslav Zheleznyak about the possible involvement of 'Sens Bank' in money laundering schemes during purchases for 'Energoatom'.

Analysis of activity in financial institutions

According to the NBU, among the eight banks that imported cash from abroad, there was 'Sens Bank'. However, despite this, the analysis did not show sudden spikes in cash withdrawal, indicating the absence of large-scale suspicious operations.

The NBU notes that there are no abnormal cases of currency withdrawal, - this is confirmed by the regulator.

During the 'Midas' operation, packages of dollars in banks likely could not be issued to clients due to strict currency restrictions and limits on cash withdrawal. The NBU emphasized the importance of adhering to currency rules and explained the possible sanctions in case of violations.