Transparency International UK has today called on the UK Government to set up a cross-departmental Task Force on Ukrainian Assets. A similar group was set up by the Cabinet Office after the Arab Spring to bring together asset recovery experts, investigators and prosecutors into a single team.

25 February 2014 - Robert Barrington, Executive Director, commented:

‘It is important to act quickly and before it is too late. Right now, it is likely that corrupt assets of Ukrainian origin are flowing through the UK’s financial system. The experience of the Arab Spring taught us that swift action is necessary to freeze and recover stolen assets. The UK’s system is not fit for purpose, but creating a Task Force is a good interim measure and should be undertaken immediately. It is reported that UK police are in Kiev today. There should be UK asset recovery specialists there as well before the leads go cold and the paperwork is lost or destroyed.’

Transparency International UK has also warned that financial aid given to Ukraine should be subject to proper anti-corruption controls, to make sure that it is used for the purposes intended.