The NBU has banned the operations of Obmin24 and X-Change: The companies were operating without licenses, providing currency trading and money transfer services

The NBU has banned the operations of Obmin24 and X-Change: The companies were operating without licenses, providing currency trading and money transfer services

The NBU has made a decision to prohibit the activities related to trading currency values and providing financial payment services by the companies LLC «FC «Obmin24» and LLC «FC «X-Change» through internet services and branded branches Obmin24 and X-Change (both companies are registered under a rural resident, Hennadiy Nesterov, who received financial assistance).

The prohibition applies to all operations conducted through internet services and the network of branded branches Obmin24 and X-Change.

The National Bank of Ukraine has established that neither of these companies held NBU licenses to provide financial services, and the advertising campaigns for their services promoted the possibility of circumventing regulatory restrictions.

Through internet services and the network of branches, operations were фактически carried out that bear the characteristics of money transfer services without opening an account and trading currency values.

The NBU Board:

- recognized the services provided to individuals and legal entities through the internet services Obmin24 and X-Change and/or in branded branches as having characteristics of financial payment services and financial services related to trading currency values;
- classified the companies providing services through the internet services Obmin24 and X-Change and/or in branded branches as entities providing payment services without proper authorization (without a license and/or registration);
- prohibited these companies and other entities influenced by the ultimate beneficial owners of these companies from providing such services through the internet services Obmin24 and X-Change and/or in branded branches.

We anticipate searches and arrests of members of this organized criminal group.