Ukrainian government creates Bureau of Economic Security

The Cabinet of Ministers of Ukraine passed a
resolution on May 12 founding the Bureau of Economic Security. The bureau will
focus on economic crimes, epravda.com.ua reported on the same day. The bureau
will take on responsibilities currently under the purview of the Security
Service of Ukraine, State Fiscal Service and State Bureau of Investigation.
This includes the work of the Tax Police. The bureau will report to the Cabinet
of Ministers.

The creation of the bureau follows from the Jan. 28 passage by the Verkhovna Rada of the law
enabling its creation.

James Hydzik: The bureau is supposed to increase the professional level of and
centralize the government’s efforts to properly execute economic law. It is
possible that the consolidation will foster such changes. However, Ukraine is
noted for having good laws that are not well applied. Only time will tell if
the bureau will be both effective and an effective change.