Countering shell companies and opaque operations: ESBU strengthens cooperation with NBU and State Customs Service

 The identification of risky operations in foreign trade, the prevention of opaque capital flows, the use of shell companies, and the strengthening of inter-agency cooperation were discussed during a working meeting between the leadership of the Economic Security Bureau of Ukraine (ESBU), the National Bank of Ukraine (NBU), and the State Customs Service of Ukraine.

The meeting was attended by ESBU Director Oleksandr Tsyvinskyi, NBU Governor Andriy Pyshnyy, Head of the State Customs Service of Ukraine Orest Mandziy, NBU Deputy Governor Yuriy Heletiy, and Director of the Financial Monitoring Department of the NBU Anna Lypska.

During the meeting, the parties discussed pressing issues in foreign economic activity, existing risks, and ways to enhance cooperation between state authorities.

Special attention was paid to preventing opaque capital flows and the draining of funds, increasing the transparency of financial and foreign trade transactions, and improving mechanisms for detecting high-risk schemes. The participants emphasized the need for more effective coordination between state authorities to ensure the timely identification and prevention of potential risks.

Among other issues, the meeting addressed problematic matters identified through the NBU's supervisory activities. Specifically, the discussion focused on newly established companies exhibiting shell-company characteristics and engaging in large-scale foreign economic operations. Such enterprises can be used for opaque capital movements and pose significant risks to the country's economic security.

"Effective information exchange between state authorities enables us not only to respond quickly to risks but also to prevent them from arising. Our task is to timely identify risky operations, minimize opportunities for utilizing illicit mechanisms, and establish transparent rules for business operations," noted ESBU Director Oleksandr Tsyvinskyi.

The meeting participants agreed to intensify cooperation between state institutions for more effective risk detection and to ensure the transparency of financial and foreign economic transactions. The parties will continue their work within the framework of a joint inter-agency working group and enhance information sharing across key areas of operation.