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An order for establishing Ukraine’s Bureau of Economic Security, BEB, has been signed by president Zelensky.

A new bureau in the sphere of anti corruption is closer to seeing the light of day. The Bureau of Economic Security wil be a new unit doing analytical work, analysing financial transactions looking for violations of the law, according to Ukraine Business News.

The new unit will not be doing actual law enforcement, but is strictly a measure of detection. At the same time SBU, the central intelligence bureau of Ukraine, will lose the power to investigate organized crime and corruption.

According to the office of president Zelensky, this is to “allow SBU to focus on performing tasks that are really directly related to the security of the state, focusing on counter intelligence activities in the economic sphere.”

Goodbye, tax police

BEB is taking the powers of SBU and the State Tax Police and will be put under the command of the Cabinet of Ministers. At the same time, the State Tax Police is being shut down and liquidated over the next four to five months, according to plan.

The Bureau of Economic Security is to be the sole government agency responsible for combating economic and financial crimes. The powers of the Bureau are the following:

Implementation of operational and investigative activities and pre-trial investigation within the statutory jurisdiction;

Conduct of informational and research and analytical informational activity in order to identify and eliminate the causes and conditions that contribute to the commission of criminal offenses under the jurisdiction of the Bureau of Economic Security of Ukraine.