Interagency working group proposes improving sanction tool for money laundering

12:37, 21.04.2015 1 min read

The interagency working group on coordinating the return of laundered money to Ukraine has prepared proposals on amending certain relevant Ukrainian laws, the press service of the Ukrainian Prosecutor General's Office (PGO) has reported.

"The working group headed by Deputy Prosecutor General Vitaliy Kasko continues operating and the ways of returning funds illegally withdrawn by former high-ranking officials [hiding] outside Ukraine are being discussed at the interagency level," reads a PGO report which was published on Monday.

Proposals to amend Ukrainian laws aimed at improving the mechanism on applying sanctions for the violation of the procedure on placing currency assets outside Ukraine have been prepared by the working group.

"The amendments aim at increasing payments to the Ukrainian national budget at the expense of those who violate the established rules of currency regulation and try to hide funds abroad," the PGO said.