Bureau of Economic Security of Ukraine

The pillar and one of the key functions of the Bureau of Economic Security is analytical activity in regard to existing and potential threats in the sphere of the state’s economy, which, following the law, constitutes the key factor of combating economic and financial offences.

Another key function of the Bureau of Economic Security is police operations and pre-trial investigation within the competence established by law.

Unlike the State Fiscal Service or National Police, its being, first and foremost, an analytical rather than “law enforcement” body can be referred to as one of advantages of the Bureau in this context. The investigative function of the Bureau of Economic Security is a secondary one, which results from its analytical activity.

In regard to the key provisions. Law No 1150-IX has introduced the notion of risks analysis defined as information and analysis activity with the view to assessing threats to economic security, degree of its vulnerability and level of negative influence on it.

Part 1 of Article 12 of the Law establishes that in its analytical activities the Bureau uses a risk-oriented approach which lies in identifying, assessing and determining risks of criminal offences in the economic sphere as well as relevant measures to manage risks in a way and scope which ensures minimization of such risks depending on their level.

Thus, the given provisions spell out the ILP (Intelligence-Led Policing) concept previously unknown in Ukraine.

As far as prospects to create a bureau for businesses, it all depends on results of personnel selection of the leadership and employees of the Bureau of Economic Security. Considering the fact that personnel of the central office of the Bureau is planned in four months after the Law becomes effective, it is too early to speak about any results.

However, returning to the aforementioned ILP concept, one can expect the analytical work of the Bureau of Economic Security to become a safeguard against ungrounded pressure of law enforcement bodies on businesses. For example, there will be no need to institute a fact criminal proceeding to “terrorize” enterprises with searches solely with the view to finding if they are fictitious or not. Instead, respective analytical units of the Bureau of Economic Security will check up on such facts by monitoring the current economic activities of a legal entity.