The National Bank of Ukraine has introduced special chatbots in messaging platforms for PEPs

The National Bank of Ukraine has introduced special chatbots in messaging platforms for politically exposed persons, where they can obtain answers to their questions.

The National Bank of Ukraine states that the new law has raised numerous questions regarding the introduction of the perpetual status of Politically Exposed Persons (PEP) and the application of a risk-oriented approach to such individuals when establishing business relationships and providing services.

Communication between PEPs and banks and non-banking institutions will be facilitated through these chatbots. This may involve issues such as service denials, requests for additional information or documents, and more.

You can find these chatbots on the National Bank of Ukraine’s website in the “Consumer Rights Protection” section.

To recap, top officials and their close relatives will now have lifelong PEP status. However, the National Bank has clarified that this does not imply lifelong financial monitoring.