Leadership changes in the State Financial Monitoring Service of Ukraine will not resolve the country’s key financial transparency issues. Combating money laundering requires concrete steps in three key areas:

1. Public-private partnership
Banks and businesses must work more closely with the public sector, following the successful models of Singapore and Australia. In Ukraine, however, information exchange remains fragmented, weakening the fight against financial crime.

2. Regulation of virtual assets
Without proper oversight, the cryptocurrency market becomes a tool for financial fraud. Clear regulations, registration of crypto service providers, and effective transaction monitoring are essential.

3. Financial investigations
The effectiveness of financial investigations is hindered by overlapping responsibilities, a lack of analytical tools, and methodologies. Removing these obstacles, strengthening coordination among institutions, and ensuring transparency are crucial.

Ukraine has the opportunity to prove its financial reliability, but achieving this requires more than just new leadership—it demands systemic change.