Recently, clients of Ukrainian PrivatBank began to complain about card blocking. In particular, people say that they still cannot manage their own funds as usual. The bank makes excuses: they say this is due to illegal transactions and suspicious transfers of funds.
This was stated by PrivatBank press secretary Oleg Serga.
“PrivatBank is a state institution, therefore certain actions are carried out exclusively within the framework of the law. No one blocks cards just like that. The reason may be illegal transactions. If the bank notices this, then the accounts may be blocked until the circumstances are clarified,” wrote a Privatbank press secretary.
The bank also explained that in accordance with the clause of the legislation “On preventing and combating the legalization of funds obtained by illegal methods, the financing of terrorist acts and the financing of the proliferation of weapons of mass destruction,” the bank, as a subject of primary financial monitoring, identifies the correctness of transactions.
The bank representative also emphasized that due to the martial law in the country, transactions are being checked more carefully. Thus, Privatbank is trying to avoid financing terrorist groups and Russian agents.
“Since the beginning of the war, we have blocked many cards. However, card owners are not always guilty, because fraudsters can use them without the owners’ knowledge. This is possible due to the re-issuance of SIM cards. Therefore, we advise you to register a mobile number to avoid becoming a victim of scammers,” added Serga.