Ukraine has begun receiving data on the foreign bank accounts of its citizens

Ukraine has conducted its first international automatic exchange of information about citizens’ financial accounts.

This was reported by the Ministry of Finance of Ukraine.

As part of the procedure, information on non-residents’ financial accounts was shared with an unnamed country, and in return, data on the accounts of Ukrainians was received.

It was noted that, in order to “increase the transparency of financial transactions and combat tax evasion,” the agencies of the two countries exchanged lists that included personal details such as the individual’s name, address, date and place of birth, tax identification number, as well as information about the financial institution and account, including the balance at the end of the reporting period.

Several months ago, the Verkhovna Rada announced that Ukraine would begin exchanging information on the accounts of its citizens with 115 countries, including EU member states, where more than four million Ukrainians reside. The law enabling this exchange was signed by President Volodymyr Zelensky in March 2023.