The Ukraine Economic Security Bureau has uncovered a large shadow financial network involved in currency exchange, domestic and international money transfers, as well as cryptocurrency operations. More than 30 searches were conducted across 16 regions, resulting in the seizure of over 630 million UAH ($14 million) in cash.

The network was used for tax evasion and money laundering

According to the agency, the infrastructure was used to evade taxes and legalize criminal proceeds, including through cryptocurrency transactions.

Record cash seizure for the agency

The seized funds represent the largest cash seizure in the history of the Ukraine Economic Security Bureau.