January 28 the Verkhovna Rada of Ukraine approved the Law of Ukraine “On the Bureau of Economic Security of Ukraine” (№3087-d), which will transfer the relevant functions of the Tax Police and the SBU Economic Security Departments. 242 deputies voted for the approval of the decision.
According to the website of the Ministry of Finance of Ukraine, the draft law was developed to eliminate the tax police and create an independent state law enforcement authority, which should perform the functions of analytical assessment, prevention, detection, termination, investigation and detection 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 defines the tasks, 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.
According to experts, the adoption of this law will contribute to the introduction of new analytical approaches to combating financial crimes and effective investigations of complex criminal schemes, prevent budget losses by preventing financial crimes and minimizing unfair competition, optimizing the structure of law enforcement and logistics.
The Ministry of Finance reminds that 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 Policy 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).