Ukrainian banks may abandon rigid limits for transfers between individuals if effective mechanisms for combating fraud are introduced in the country, including a centralized register of drops and a system of automatic check -on income.
Dmitry Glinsky, Deputy Executive Director of the Independent Association of Banks of Ukraine, has informed about it. According to him, the issue of limits has not been considered at this time, but with the emergence of effective control tools, the need for uniform restrictions may disappear by itself.
Banks today apply a risk-oriented approach. This means that restrictions apply mainly to clients at high risk, while users with confirmed and transparent income have a broader opportunity for transfers.
The use of automatic income verification systems will allow financial institutions to promptly and accurately evaluate the solvency of customers. This, in the future, can make general limits on transfers unnecessary.