NovaPay fined a record amount by the NBU: details, reasons, consequences — and what businesses should do now

The National Bank of Ukraine has imposed a record-breaking fine of over UAH 90 million on NovaPay, the financial partner of Nova Poshta. This is the largest fine recently applied to banks and non-banking financial institutions for violations in financial monitoring and currency regulation.

Reasons for the fine

The main reason was deficiencies in NovaPay’s client financial monitoring system. According to the NBU, the company failed to properly organize and conduct initial financial monitoring, which led to delayed detection of reportable transactions and poor communication with authorities.

In addition, NovaPay received written warnings for:

• Non-compliance in checking politically exposed persons (PEPs) and their associates;
• Conducting cross-border transfers of currency assets without an NBU license.

Company response and changes for clients

NovaPay announced it will pay the fine in full and on time, and will not challenge it. To avoid further sanctions, the company is already implementing changes:

• Strengthening control over the number and frequency of COD (cash-on-delivery) payments to individuals;
• Improving compliance areas highlighted by the regulator, especially regarding unregistered business activity.

As of June 1, 2025, new limits apply: an individual without registered sole proprietorship (FOP) can make no more than 5 COD sales per month totaling up to UAH 30,000. Exceeding this limit will block COD payments until FOP registration. NovaPay emphasizes it does not restrict the number of parcels, but is legally required to monitor financial activity volumes.

Conclusions

The NovaPay case is a wake-up call for the entire financial market — strict compliance with financial monitoring rules and anti-money laundering laws is now essential. NovaPay is adjusting its practices, and clients must follow the new rules when using COD services.

⚠️ The era of selling through private individuals is ending — businesses must restructure now. Either you take action in time, or face blocked accounts and fines.

We know how to do it right: efficiently, safely, and profitably!

WINNER Law Firm — one of Ukraine’s top firms in tax, criminal, administrative, and commercial law.

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By Maksym Bahniuk, Head of Tax and Customs Law Practice, WINNER