• Українською
  • Verkhovna Rada adopted a bill on the establishment of the Bureau of Economic Security of Ukraine
    Ministry of Finance of Ukraine, posted 28 January 2021 15:05

    The Verkhovna Rada has approved the draft Law of Ukraine "On the Bureau of Economic Security of Ukraine" (№3087-d). 242 lawmakers voted for the decision.

    The document is designed to eliminate the tax police and create an independent state law enforcement agency, which should perform the functions of analytical assessment, prevention, detection, termination, and investigation of criminal offenses under its jurisdiction.

    The draft law provides for the establishment of the Bureau of Economic Security of Ukraine as a central executive body, the activities of which are directed and coordinated by the Cabinet of Ministers. It also contains the objectives, functions and powers of the Bureau of Economic Security of Ukraine, control over its activities, legal status, duties and responsibilities of employees of the Bureau, etc.

    Adoption of the Law will facilitate:

    • introduction of new analytical approaches to counteracting financial crimes and conducting effective investigations of complex criminal schemes;
    • avoiding budget losses by preventing financial crimes and minimizing unfair competition;
    • optimization of the structure of law enforcement agencies and the logistics.

    Background

    The adoption of the Law on the Establishment of a Financial Investigation Body is part of Ukraine’s international obligations. In particular, this is provided for in the Memorandum of Economic and Financial Policies with the IMF and the Memorandum of Understanding between Ukraine as a Borrower and the EU as a Lender (regarding Ukraine's receipt of EU macro-financial assistance).