President of Ukraine

President of Ukraine signed a decree aimed at countering raiding

22 July 2019 - 16:03

President of Ukraine Volodymyr Zelenskyy signed the Decree "On measures to counter raiding". The document contains a set of tools that will be implemented to protect business owners and counter the deprivation of their property rights in the near future.

"The issue of raiding became one of the most painful for business. According to various estimates, there have been more than three thousand corporate raids over the past six years. Usually this is a change of ownership because of forgery of documents, registrants who do not exist, or "holes" in the registry. Schemes are different, but the essence is one. Today's decision is a real step to end this," Deputy Head of the Office of the President Oleksiy Goncharuk said.

He noted that the problem of raiding is not new. Disconnection of unscrupulous registrars was carrying out in manual mode until now, but raiding still exists.

Therefore, the decree envisages the development and adoption of a bill to remove disadvantages in legislation that allows raiders to destroy business and take property away.

In particular, it is planned introduce amendments into software of State Registries, which will significantly reduce the risks and frequency of raids.

Among the key technological changes are the automatic monitoring of risk transactions with further confirmation / stopping of registration actions, creation of a back office, which will review the transactions with high risk, photo and video fixation of transaction participants; introduction of additional confirmation of registration operations (for example, SMS-password or MobileID) and additional authorization of transaction participants (for example, e-signature).

All these changes will help entrepreneurs to conduct their business safely and minimize the risks of raiding in Ukraine.