Specialists of the Economic Security Bureau of Ukraine and the Deposit Guarantee Fund will develop common approaches and recommendations for preventing and combating offenses. In particular, those identified by the Fund in the course of administration and/or liquidation of insolvent banks. A joint working group will be established.

Acting Director of the Bureau Eduard Fedorov and managing Director of the Fund Svitlana Recruit agreed on this and other issues today during the signing of a Memorandum of cooperation.

The parties also discussed information interaction on assets seized at the request of the Bureau's detectives discovered during the investigation of criminal offenses.

"Assessment of risks and threats of criminal offenses in the monetary sphere of the economy is among the priorities of the Economic Security Bureau of Ukraine. After all a healthy banking system is the key to a strong economy. Combining the efforts and potential of institutions will facilitate the Bureau's preventive measures. We also expect progress in detecting and suppressing offenses in the banking sector," said Eduard Fedorov, Acting Director of the Economic Security Bureau of Ukraine.

According to Svitlana Rekrut, managing Director of the Fund, "The Fund is working very hard to recover assets that were illegally withdrawn from banks. This is several hundred billion hryvnias that must be returned to the creditors of the banks being withdrawn from the market and to the state. The geography of the search for such assets is very wide. This work requires close cooperation with the agencies responsible for combating financial crimes."

Other areas of cooperation envisaged by the Memorandum include joint events, training, information exchange and mutual consultation.

As a reminder, the ESBU recently signed a Memorandum with the State regulatory service of Ukraine.