As previously reported, on Friday FKTK had announced an unprecendented €2 million fine for PrivatBank and demanded the replacement of the bank's entire board.
Following another meeting of the commission on Monday it announced additional large fines for individual board members.
"FKTK today decided to apply individual monetary sanctions to AS "PrivatBank" board members - Oleksandr Trubakov, Iveta Kerpe, Rolands Petersons and Oleksandr Mekekečko.
"The decision on the individual fines was adopted because over a long period the bank's board members have allowed a large number and value of transactions at the bank, in violation of a number of legislative requirements. Thus, the bank was involved in transactions that it lead to a higher reputational, money laundering and terrorism financing risk," a FKTK statement said.
Trubakov, who must step down, was fined 96,449 euros, Kerpe (also ordered to step down) 25,869 euros, Petersons 15,411 euros and Mekekečko 7,607 euros.
They have three months to pay up but retain the right to challenge FKTK's decision or appeal to the Regional Administrative Court.