The Committee on Law Enforcement recommends adopting as a basis the draft law on payment services

Information Department of the Verkhovna Rada of Ukraine Secretariat
14 May 2021, 15:26


The Committee on Law Enforcement considered in the first reading the draft Law "On Amendments to the Code of Ukraine on Administrative Offenses and the Criminal Code of Ukraine (on payment services)".
The draft law proposes to bring the terminology of the Code of Ukraine on Administrative Offenses in line with the future law "On Payment Services". It is also proposed to introduce differentiation of liability for illegal provision of payment services in connection with the division of services into: payment, limited payment and technological.
The draft law proposes to establish liability for unauthorized activities in the payment market and to empower the National Police to draw up reports on such administrative violations.
In addition, it is proposed to strengthen criminal liability for illegal actions with payment instructions, payment instruments and means of access to bank and payment accounts, e-wallets and to establish such liability for transactions with electronic money by persons who have not been authorized in accordance with the law.
The Committee decided to recommend to the Verkhovna Rada to adopt the draft law in the first reading as a basis.