The Board of the NBU today decided to include JSC and JSC “Ibox Bank” in the category of insolvent, as the bank systematically violated the requirements of the law in the field of preventing and combating money laundering.
Ibox Bank lost its banking license on Tuesday, March 7, 2023, and therefore will be liquidated. This is stated on the website of the National Bank of Ukraine.
“The share of the financial institution was 0.1% of the assets of solvent banks, so its withdrawal from the market will not affect the stability of the banking sector of Ukraine,” the NBU said.
The National Bank explains that the decision was made due to systematic violations by Ibox Bank of the requirements of the law in the field of preventing and countering the legalization (laundering) of proceeds from crime, as well as the financing of terrorism and the proliferation of weapons of mass destruction.
For example, the bank incorrectly verified clients who work in the service sector for organizing and holding sports poker competitions. Also, the financial institution had problems with the development and implementation of internal documents on financial monitoring and risk assessment.
In addition, over the past two years, the NBU has already fined the bank due to violations, twice stopped certain types of its operations, removed officials and issued a written warning twice.
According to the National Bank, the shareholders of Ibox Bank are Vladimir Drobot, who owns 73.92% of the shares, and Alena Shevtsova, who owns 24.98% of the shares.
How IBOX terminals will work
In the meantime, Monobank urged its customers to replenish cards in other ways, since it is now impossible to do this using IBOX terminals.
Monobank urged its customers to replenish cards in other ways
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Photo: Monobank
“Due to the revocation of the license of IBOX Bank JSC, Metalley LLC (the operator of the IBOX terminal network) temporarily does not accept replenishment on our cards. The company needs time to conclude a new agreement with another partner bank (instead of IBOX BANK”) to receive payments,” the financial institution said in a statement.
Recall, on February 8, the Board of the NBU decided to include JSC “Bank Sich” in the category of insolvent. The reason is the poor financial condition of the financial institution.
Focus also reported that in June 2022, the Deposit Guarantee Fund for Individuals began paying guaranteed compensation to Megabank depositors under bank deposit agreements that expired as of the end of the day on June 2, 2022 (i.e., the day preceding the day the bank’s withdrawal began from the market), and under bank account agreements.
