B2B Jewelery: How Banks Help Fake Companies


The National Bank also noted the importance of financial literacy of the population.

How banks can help in the fight against fake financial companies. Photo: B2B Jewelery

The National Bank of Ukraine believes that banks should play an important role in identifying financial companies operating outside the legal sector. This was stated by the first deputy head of NBU Katerina Rozhkova in an interview with FinClub.

Katerina Rozhkova
First Deputy Chief of NBU

Rozhkova believes that profile associations should play an important role. “Their job is to protect their markets and their customers from such companies. If they see suspicious transactions, they should notify regulatory and law enforcement officials, ”said the top manager of NBU.

Another aspect is financial literacy. NBU plans to launch an information campaign for the population: to talk about simple rules for working with the non-banking financial sector. Rohradova commented, “If you want to work safely with a non-banking financial institution,” it will not be emphasized.

We remind you that earlier the editors of PayPass magazine and the representative of the largest bank in Ukraine explain how to improve their financial literacy and why it is important.

Paypal magazine help

In May this year, the National Commission for Securities and Stock Market (NKTSBFR) warned Ukrainians to invest in a potentially fraudulent B2B jewelery project.

As noted in the commission, B2B jewelery “provides citizens with the facility to purchase jewelry and gift certificates, which earn ultrag interest on investment profits.” At the same time, there is no description on the gift certificate of the person who issued it. B2B Jewelery is not in itself the name of a specific legal entity, so there are no clearly defined responsible persons for obligations on money attracted from citizens of Ukraine. In addition, almost all transactions in B2B jewelery stores are done in cash, which does not allow establishing relationships with the real beneficiaries of the project. “

The NSCMF also sees gross violations of the requirements of the current law of Ukraine in the actions of B2B jewelry projects. The B2B jewelery gift certificate contains indications of bond – debt securities, as they certify the first owners to deposit funds, the loan relationship between the holder of the B2B jewelery and the issuer of such certificate to the person of the B2B jewelery. Determine. The National Commission for Securities Markets has already informed law enforcement agencies about violations of the law from the B2B jewelery project and its social hazards.

Read: B2B Jewelry Suspended Payment: Pyramid Crash or Quarantine Stagnation?

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