To ensure continued compliance and mitigate risk, it’s important to follow sanctions regulations that are currently in effect for the processing of transactions that originate from or are being sent to sanctioned areas of Ukraine.
Processing payments from Ukraine in UAH (Ukrainian hryvnia) or any other currency is normally permissible unless they are linked to the following regions:
Whether accepting payments from individuals or making payouts, robust screening controls are essential. Practical measures include geolocating, checking ZIP codes for sanctioned regions, or manually reviews for Ukraine-based payments.
Failing to comply with these regulations carries severe consequences, particularly from US authorities. These can include public censure, substantial financial penalties, and direct regulatory oversight, posing a significant threat to your business operations.
If you process transactions to or from customers in Ukraine and want to discuss how you can further strengthen your controls and adhere to these critical regulations, please contact your Account Manager or raise a support request. We’ll be happy to help.
Tom is the Merchant Communications leader for Checkout.com, responsible for keeping merchants aware of product changes, scheme updates, and regulations. With 12 years of payments industry experience, Tom also writes blogs on general industry topics across all the solutions we offer.
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