Verkhovna Rada Supports Bill Criminalizing Drop Accounts

The Verkhovna Rada has adopted in the first reading bill No. 16013, which criminalizes the transfer and use of drop accounts employed in criminal schemes. The bill was supported by 299 deputies. The document aims to improve criminal law mechanisms to combat financial fraud and enhance liability for the use of accounts in illegal operations. It also implements provisions of EU Directive 2019/713 concerning the fight against fraud related to cashless payments. The bill proposes the creation of a registry of individuals whose operations are subject to enhanced control, as well as mandatory checks of clients by banks and payment service providers. Drops are individuals who provide access to their banking details for a reward, facilitating financial crimes. In June, banks closed more than 500,000 accounts as part of the fight against drops.

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