Analytics Instead of ‘Masque Shows’: How the Logic of ESBU Pressure on Business is Changing

December became a month of profound discussion for the Riyako & Partners team regarding the new reality of corporate oversight—a shift away from high-profile raids toward less visible but equally damaging consequences.

The relaunch of the Economic Security Bureau of Ukraine (ESBU) has decisively changed the rules of the game: physical ‘masque shows’ (tactical raids) are increasingly being replaced by analytical findings that trigger asset seizures, account freezes, and criminal proceedings.

Our solicitors addressed this very topic during two recent public speaking engagements.

During the webinar "Why Analytics is Becoming More Dangerous than ‘Masque Shows’?", we broke down the scenarios and specific figures that place a company in the BES spotlight. We explored how a business’s risk profile is formed, why a BES analytical product becomes the foundation for criminal prosecutions, and how forensic economic expertise can transform figures from prosecution evidence into a tool for the defence.

The event featured: Oleksandr Shevtsov, Solicitor at Riyako & Partners; Yevgen Riako, CEO of Riyako & Partners; and Iryna Ped, CEO and Managing Partner of S&D Expert Group, Doctor of Economics, and Forensic Economic Expert.

The following day, Yevgen Riako spoke at the Ukrainian Building Awards, where he focused specifically on risks within the construction sector:

• New ESBU approaches to analytics and risk assessment for construction companies;
• Triggers that most frequently initiate tax audits, account freezes, and criminal proceedings;
• Defence strategies for businesses operating with public funds.

The key message is simple: today, the ESBU no longer needs to arrive on-site to paralyse a company. An analytical conclusion, generated in the background while the business continues to operate, is sufficient. Oversight is becoming more systemic and data-driven; however, countermeasures exist—provided the business understands the logic of this new model and acts proactively alongside its legal counsel.

To receive a consultation on business protection in 2026, contact us today.