The $14.5 billion in losses from Ukraines banking sector in recent years have put a tremendous financial strain on Ukrainian taxpayers and their government.
The losses much of it attributable to bank fraud are divided into three parts: $3 billion in state payouts to insured depositors, another $3 billion in unpaid refinancing loans to the state and $8.5 billion in losses to uninsured depositors.
But Ukraines law enforcement and regulatory institutions are working at a snails pace in trying to recover the losses. Consequently, the three-year legal statute of limitations on prosecuting money laundering and criminal bank fraud are likely expire without any criminal or civil action being taken.
The state has recovered a …
Read the full article at: https://www.kyivpost.com/business/ukraine-danger-never-recovering-stolen-billions.html