Washington expressed readiness to assist Ukraine in creating Financial Investigation Service

The Financial Crimes Enforcement Network or FinCEN is ready to help Ukraine to establish financial investigation services, the Minister of Finance of Ukraine, Oleksandr Danyliuk said after a meeting with the Deputy Director of the FinCEN, Jamal El-Hindi in the USA, the Ministry’s press service revealed on Sunday, January 14.

According to Danyliuk, the State agency is satisfied with the level of cooperation with Ukraine and it intends to actively monitor the process of forming Financial Investigation Services (FIS), the sole body to combat financial crimes against the State.

Danyliuk recalled that earlier, the Ministry of Finance reached agreements with the Bureau of International Narcotics and Law Enforcement Affairs of the Department of State and the Italian Ministry of Finance on providing training for future financial intelligence service personnel.  

FinCEN is a department within the Ministry of Finance of the USA that collects and analyzes information about financial transactions in order to combat money laundering, terrorist financing and other financial crimes in the United States and abroad.

As was reported, during the voting for the budget for 2017, deputies mistakenly supported the provision on the elimination of the Tax Police and its removal from the relevant section of the tax code from January 1. On February 23, the Parliament rejected the draft law on the restoration of the tax police.  

Nevertheless, the management of the State Fiscal Service stated that the tax police will continue its work until a relevant body is established to replace it. These were the explanations of the head of the Parliamentary Committee on Taxation and Customs Policy, Nina Yuzhanina.

In September, the Cabinet of Ministers supported the draft law on the establishment of an FIS as elaborated by the Ministry of Finance providing elimination of the Tax Police.

  Ukraine, finance