Ministry of Finance discusses verification of social welfare payments with banks

2/26/16

On February 26, deputy Ministers of Finance Roman Kachur and Artem Shevalev met representatives of the banking sector to discuss the launch of the verification process for social welfare payments which had been elaborated by the Ministry of Finance.

During the meeting, deputy Minister of Finance Roman Kachur said that the verification process is an important tool to increase the effectiveness of the use of public funds since it prevents social welfare from being provided to fake recipients. He also pointed out that verification does not pose any threat for bank customers, since it only requires a minimum set of data about recipients which can’t be used in the interest of third parties.

«In the course of verification we will be checking, if all funds provided by the State Pension Fund and other authorities are transferred to real pensioners, real citizens or to fake ones or criminals. This will help us provide financial support to citizens who really need it», Roman Kachur said.

Head of the department for verification and monitoring of social welfare payments Andriy Ryazantsev specified that verification is to be conducted using electronic tools and phone calls and will not pose any discomfort to citizens. Interacting with banks in the course of verification, the Ministry of Finance will only be requesting a minimum set of data about social welfare recipients and will be processing these data in a confidential way.«These checks will not be of any risk to citizens. Information which we will receive from banks will not be transferred to third parties. We will just be checking compliance with criteria for social welfare recipients», Andriy Ryazantsev emphasized.

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