Featured Ukraine

A Ukrainian Anti-Corruption Activist Is Now Being Investigated for Corruption

A young activist who became prominent in Ukraine's 2014 uprising and was later appointed to work on a major project to reform the corruption-plagued customs of Odessa is herself being investigated for corruption. Read More

Ukraine imposes sanctions against some Russian and Crimean coal companies

Ukraine has imposed sanctions against a number of Russian and Crimean companies involved in coal transportation, handling and sales. The corresponding decision is stipulated in the resolution of National Security and Defense Council dated September 16, 2016 and presidential decree No. 467/2016. “The basis for applying sanctions is the actions… Read More
2nd August 2018
Lawyers representing two former owners of Ukraine’s biggest lender PrivatBank denied on Wednesday all allegations of fraud made by the bank but said proving that $248 million was not misappropriated would be complicated. The lawyers’ statement followed a court hearing over the past week, challenging a worldwide freeze on the… Read More
2nd August 2018
Three Ukrainians have been arrested on criminal hacking charges including stealing payment card numbers, in attacks on more than 100 U.S. companies that cost businesses tens of millions of dollars, the U.S. Justice Department said on Wednesday. U.S. prosecutors alleged that the three Ukrainians, who were arrested in Europe between… Read More
11th July 2018
Ukraine’s biggest bank does not rule out settling a legal dispute with its former main shareholders out of court, the head of PrivatBank’s supervisory board said on Tuesday. The Ukrainian authorities took PrivatBank into state hands in December 2016 and have spent nearly $6 billion so far to plug a… Read More
8th June 2018
AP — Ukraine’s parliament has approved creating an anti-corruption court, a key step toward restoring international financial aid, but it has fired the finance minister who has been an important reform advocate. Ukraine has received only about half of a promised $17.5 billion loan package from the International Monetary… Read More
31st May 2018
AP — To the gasps, whoops and applause of stunned colleagues, Russian journalist Arkady Babchenko walked into a news conference Wednesday, less than a day after police in the Ukrainian capital said he had been assassinated. Authorities said his death had been staged to foil a plot on his… Read More
8th May 2018
Ukraine’s new corruption court, whose creation is a key condition set by Western aid donors, should be ready to hear its first cases early next year, General Prosecutor Yuriy Lutsenko said. In an interview with Reuters in London, Lutsenko also said he hoped to join forces with the FBI on… Read More
27th April 2018
PrivatBank in Ukraine has filed a lawsuit against PricewaterhouseCoopers (PwC) in Cyprus and Ukraine, seeking $3 billion in compensation for damages it says it suffered as a result of the auditor’s ‘extensive breaches of duties,’ including failure to identify fraud. The legal action pertains to PwC’s auditing of PrivatBank’s… Read More
10th April 2018
Ukrainian President Petro Poroshenko said his country will impose sanctions on Russian oligarchs, Reuters reported on Tuesday. It is understood the move follows recent sanctions that were imposed on Russian oligarchs and government officials by the United States. The sanctions freeze their US assets and also prohibits American citizens from… Read More
2nd March 2018
Ukraine’s Security and Defence Council said on Thursday it had extended sanctions that had been due to expire in March against the Ukrainian subsidiaries of Russian state-owned banks. Four such banks still operate in Ukraine, including arms of Sberbank, VEB and VTB, which are among Ukraine’s 20 largest lenders. The… Read More
6th February 2018
A UK company helped the circle of Ukraine’s disgraced ex-president profit from last year’s Eurovision Song Contest, a BBC investigation has found. A Kiev exhibition centre paid to host some Eurovision events is owned through a Hertfordshire-registered company. At least £1.2bn has been funnelled through companies registered at the… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More