The Ukrainian government, in conjunction with the National Bank, has endorsed a new anti-money laundering and terrorist financing programme for 2004, it emerged recently.
According to reports in the national media, the programme is designed to move the country further toward the introduction of international standards in this area.
To this end, draft consideration proposals will be submitted to the Cabinet of Ministers suggesting legislative amendments throughout 2004.
Foreign trade transactions undertaken by entrepreneurs through offshore centres will receive greater scrutiny, as will newly developed technologies within the banking and finance sectors which could potentially be used to assist in the laundering of money.
A more in-depth and complex programme will additionally be formulated for the 2005-2010 period.
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