Evgen Riyako, CEO of the law firm RIYAKO & PARTNERS, shared his vision on the changing approach of the Economic Security Bureau of Ukraine (ESBU) toward the private sector. The discussion covers the transition from targeted inspections to systemic partnership through business associations, the protection of companies as victims, and the gradual shift toward a culture of compliance.
The column was originally published in the delo.ua edition.
Read the full article on delo.ua: https://delo.ua/business/nova-filosofiya-beb-kurs-na-partnerstvo-z-biznesom-461996/
Today, there is increasing talk about the “new philosophy” of the Economic Security Bureau of Ukraine (ESBU). While economic proceedings are not new to the legal community, the Bureau’s evolving approach is forcing defense attorneys to fundamentally rethink their strategic decisions and tactics.
Key Highlights of the Article:
- The Team-Based Approach: Why a classic criminal law background is no longer enough and why involving tax attorneys and forensic economic experts is now critical.
- Experience as a Key to Predictability: How understanding the ESBU’s internal logic and analyzing recent large-scale cases helps build realistic defense scenarios.
- Institutional Challenges: Why the lack of established judicial practice and inconsistencies between the State Tax Service and the ESBU remain primary risk zones for business.
- The ESBU Analytical Product: How to address the status of this document to prevent it from replacing a solid evidentiary base.
The ESBU is creating a new environment where success is driven not by universal methods, but by deep tax-financial expertise and systematic handling of economic data.
👉 Read the full article here: The New Philosophy of the ESBU as a Factor in Shaping New Business Defense Practices
At Business Wisdom Summit 2026, a panel discussion took place on the de-shadowing of Ukraine’s economy and the transformation of its business environment. The discussion was moderated by Yevgen Riyako, business defence attorney and CEO of Riyako&Partners.
Participants discussed the results of government efforts to de-shadow the fuel, tobacco and other sectors, the role of the Bureau of Economic Security, the tax authorities and the banking sector in these processes, and the broader shift towards transparent business models. The conversation went beyond the challenges — tax burden and increased scrutiny — to cover the strategic advantages: access to financing and stronger negotiating positions in dialogue with the state.
The panel brought together representatives from government and large business:
- Danylo Hetmantsev, Chair of the Verkhovna Rada Committee on Finance, Tax and Customs Policy
- Vasyl Danyliak, CEO of OKKO Group
- Andriy Lukasevych, Philip Morris Ukraine
- Andriy Bukin, Bank Pivdennyi
For the Riyako&Partners team, this topic is part of everyday practice: for 15 years we have worked with businesses on criminal and economic matters, and we see firsthand how both the state and business are changing their approach to transparency.
Today, de-shadowing is gradually moving from declarations to real processes, and communication between business and the state is becoming more effective. There is still much work ahead, but the direction of change is already clear: in the long run, “white” business is no longer a choice for the bold — it is becoming the baseline strategy for companies planning long-term growth, expansion into new markets and protection from systemic pressure.
We are proud to announce that RIYAKO & PARTNERS has made its debut in the prestigious international ranking, The Legal 500, specifically in the White-Collar Crime practice (criminal cases involving business and official misconduct).
This is a significant milestone for us. The Legal 500 is one of the world’s leading legal directories, based on independent research of completed projects and comprehensive client feedback.
The study highlighted our expertise in defending complex criminal cases related to public procurement, abuse of office, and financial transactions. However, perhaps the most valuable part of this recognition is the feedback from our clients:
- “I specifically looked for lawyers with experience in defending businesses in cases related to public procurement. RIYAKO & PARTNERS are well-known in this field. Thanks to their work, we managed to avoid serious reputational and financial consequences for the company.”
- “We worked with Alexander Shevtsov and Evgeniy Riyako. They have a deep understanding of criminal defense and the public procurement sector; they see the picture better and broader than our own team and point out the weak spots in the case.”
This achievement is the result of years of systematic teamwork! We are proud of this recognition and sincerely grateful to our clients for their continued trust.
The appointment of the new Director of the Economic Security Bureau of Ukraine (ESBU) marks a significant milestone for the Ukrainian business community and civil society. Following a prolonged process, the Cabinet of Ministers has finally appointed a leader who meets public expectations. This decision signals the beginning of a new phase for the ESBU, raising a critical question: how should its performance be effectively measured?
Experts and the business community agree that the Bureau’s success should not be measured by the number of raids or initiated cases. Instead, key performance indicators (KPIs) must focus on tangible results: the reduction of “grey” schemes, the fight against counterfeit goods, and the recovery of funds to the state budget. The new head of the ESBU emphasised that efficiency should be assessed by economic impact. This impact can be quantified through the reduction of losses from tax evasion, the dismantling of major criminal schemes, and proof that “untouchables” in business no longer exist.
A vital component of these changes is establishing a constructive dialogue between the ESBU and the business sector through professional associations. This enables the Bureau to receive rapid intelligence on major systemic issues and focus on tackling bad-faith actors. Furthermore, a draft law is currently under discussion that could alter the procedure for initiating criminal proceedings against businesses, a topic sparking significant debate in expert circles.
On 8 October, during an expanded meeting of the Board of Directors of the Confederation of Builders of Ukraine (CBU), a new committee was established: the Committee for Interaction with Law Enforcement Agencies.
The construction industry is among those most frequently subjected to audits and pressure from law enforcement, particularly during participation in public procurement. The new committee is designed to serve as a platform for systemic dialogue between business and the state, as well as for developing solutions to mitigate risks for developers.
Yevgen Riako, CEO of the law firm Riyako & Partners, was elected as the First Deputy Chair of the committee.
In his new role, he will contribute to the development of legal protection mechanisms for market participants and the creation of a secure environment for the industry’s growth.
It is impossible to imagine modern business without partners — suppliers, distributors, logistics providers, and contractors. However, every new counterparty represents not only an opportunity for growth but also a potential risk. If a partner acts in bad faith, it can lead to tax assessments, VAT blocking, or even the initiation of criminal proceedings.
The tax authorities are increasingly analysing supply chains as a whole rather than focusing on isolated business transactions. Consequently, simply holding a signed contract and a delivery note is no longer sufficient; it is vital that the selection of counterparties is conducted with due diligence. This means that a taxpayer must demonstrate reasonable care and foresight when collaborating with partners to avoid the risk of engaging with fictitious or problematic suppliers. Such an approach does not impose an obligation to prove the legality of a counterparty’s activities, but rather confirms the taxpayer’s own good faith within the principle of “reasonable care.”
In his blog for Liga Zakon Business, a tax solicitor from Riyako & Partners explains how to navigate these risks and vet third-party vendors to ensure the tax authorities have no grounds for inquiry.
The article covers:
- What a supply chain is and why it matters;
- The specific risks that arise within supply chains;
- Stages of third-party vendor due diligence;
- Compliance recommendations from a tax solicitor to protect your company.
Analytical products from the Economic Security Bureau of Ukraine (ESBU) are increasingly becoming the starting point for audits, inquiries, and criminal proceedings. Consequently, it is vital for businesses and corporate lawyers to understand what a ESBU analytical product entails, how it is generated, and how to address it in practice.
Oleksandr Shevtsov, Head of Criminal Practice at Riyako & Partners, addressed these issues during the XVII Kyiv Criminal Law Forum organised by the Ukrainian Advocates’ Association.
What is a BES Analytical Product? An analytical product is the result of analysing vast datasets, including tax information, customs data, official registers, financial indicators, and open-source intelligence (OSINT). Based on this analysis, conclusions are drawn regarding potential risks within a business’s operations. In practice, these findings often explain why a company has fallen under the scrutiny of regulatory authorities.
Does it Constitute Evidence in a Criminal Case? Oleksandr placed particular emphasis on the evidentiary weight of analytical products. In itself, such a product does not equate to an established fact of a violation; however, it may be utilised as a documentary record within criminal proceedings. Therefore, it is crucial not to ignore such materials but to understand the data used, the conclusions reached, and what specifically can and should be challenged or refuted.
How Businesses Should Address Analytical Findings Business defence solicitor Oleksandr Shevtsov shared key tools for counteraction:
- Ensuring the proper documentation of business transactions;
- Utilising formal solicitors’ inquiries, temporary access orders, and witness examinations to substantiate the value of goods, the authenticity of business operations, and to refute allegations of related-party transactions;
- Initiating tax audits;
- Conducting a comprehensive range of expert assessments: economic, forensic commodity, technical, and handwriting analysis.
Understanding the logic behind such analytical tools is now a critical component of corporate security and protecting a business from law enforcement pressure.
The All-Ukrainian Business Summit in Kyiv brought together owners and CEOs from six key sectors: from healthcare and HoReCa to manufacturing and construction. It was a day of candid discussions regarding the challenges businesses face entering 2026 and which management decisions are genuinely effective.
Yevgen Riako, CEO of Riyako & Partners, joined a panel discussion on legal challenges for business, providing a practical analysis of:
- How the approach of state authorities towards oversight is evolving;
- The specific tools currently employed by the Bureau of Economic Security (BES);
- How entrepreneurs can build a defence system that withstands the new rules of the game.
During his address, Yevgen shared observations on the transformation of the BES, modern “trends” in audits, and approaches that allow businesses not only to react to pressure but also to establish a resilient legal position proactively.
The summit, organised by Holders, served as a platform where entrepreneurs could share their experiences, ask difficult questions, and hear perspectives from across various industries.
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.
