The law distinguishes between penalties for organizers of financial schemes and accomplices
On October 28, 2026, the Verkhovna Rada adopted a law to increase criminal liability for financial fraud involving payment instruments and bank accounts. The document provides for a distinction in penalties between the organizers of criminal schemes and persons who provide access to their payment methods. This is reported by the portal PromPolitInform, citing information from the Verkhovna Rada.
Adopted by the parliament, Law No. 16013 aims to improve mechanisms for combating financial crimes and to adapt Ukrainian legislation to the requirements of Directive (EU) 2019/713. The bill was initiated by President of Ukraine Volodymyr Zelenskyy.
Innovations in the Criminal Code
The updated Article 200 of the Criminal Code of Ukraine now covers illegal transactions involving payment instructions, mandates, and other means of access to electronic wallets. Liability applies, in particular, to the misappropriation, theft, or seizure of such instruments through abuse of trust.
The Code has been supplemented with Article 201-1, which regulates sanctions for the transfer, acquisition, or storage of payment instruments for the purpose of fraud. For a voluntary report of a first-time offense and cooperation with the investigation, there is a possibility of exemption from criminal liability.
Levels of responsibility
For the transfer of payment methods for use by others for fraudulent purposes, a fine of 300 to 1,000 non-taxable minimum incomes of citizens has been established. The acquisition, storage, or distribution of someone else’s payment instruments is punishable by a fine of 3,000 to 5,000 non-taxable minimums or restriction of liberty for up to 3 years.
For organized groups or in the case of a repeat offense, the penalty is significantly increased — a fine of 5,000 to 10,000 non-taxable minimums or imprisonment for a term of 4 to 6 years. In addition, the document expands the scope for applying criminal-legal measures against legal entities involved in such schemes.
Jurisdiction and implementation
The law clearly delineates the roles of ordinary participants and organizers of illegal financial schemes. Pre-trial investigation under Article 201-1 is assigned to the investigative bodies handling the main case in which the stolen or transferred payment methods were used.
Illustrative photo: Стоялов Максим / CC BY-SA 4.0
