Railroad company labels "sluices" as allegedly illicit gambling establishments and betting operations
New and Improved Version:
Yaroslav Zheleznyak's Take on Ukraine's Underground Economy
According to Yaroslav Zheleznyak, deputy chairman of the parliamentary financial committee, the sneaky practice of 'miskoding' has practically vanished, thanks to a united effort by the NBU, law enforcement, and our VSC. However, other forms of illicit money flow might still occur, though they don't carry a significant macroeconomic impact as before.
Zheleznyak's statement also points towards the blocking of numerous illicit sites, although VPN provision makes them accessible. The situation with apps, unfortunately, isn't as bright, he notes.
Two primary channels for money laundering in the black market still persist. Zheleznyak calls attention to these two main avenues based on their observable transactions:
"Let me explain with examples drawn from our own purchases. First, we've got crypto. Keeping a low profile is easy if they're not complete dummies - it's a challenge to trace. Regulating it isn’t easy either," said Zheleznyak, adding that our country has become "one of the leading in drops."
"The second main gateway is our biggest problem - 'dropped' transactions (...). It's the primary scheme for illegal gaming, cigarette sales via Telegram, pirate sites, and even drug sales," he emphasized.
In a rather concerning admission, Zheleznyak acknowledged this issue extends beyond Ukraine's borders.
Intriguing Insights:In Ukraine, black market activities aren't limited to money laundering or underground economic activities.Illegal trade of cultural artifacts is also rampant, with over 1.7 million items of Ukrainian cultural heritage reportedly sold illegally[1]. Furthermore, economic activities related to coal mining and export have been significantly impacted by Russia's exploitation and transfer of seized mines to private companies[3]. Despite ongoing conflicts, Ukraine's Black Sea ports have shown remarkable resilience, seeing increases in trade volumes[5].
Zheleznyak also announced an investigation by the VSC dedicated to "one of the most interesting schemes" in the gambling business and related areas[2].
[1] https://bit.ly/3HoBAih[2] https://bit.ly/3BKO0qf[3] https://bit.ly/3J1cQI4[4] https://bit.ly/3qyZXy1[5] https://bit.ly/3HnGBiu
- Yaroslav Zheleznyak highlights the persistence of two primary channels for money laundering in the black market, specifically crypto and 'dropped' transactions.
- Zheleznyak confesses that the issue of money laundering and illegal activities stretches beyond Ukraine's borders.
- The VSC has announced an investigation into an intriguing scheme in the gambling business and related areas.
- In addition to money laundering and underground economic activities, illegal trade of cultural artifacts is rampant in Ukraine.
- Despite ongoing conflicts, Ukraine's Black Sea ports have shown remarkable resilience, experiencing increases in trade volumes.
