OREANDA-NEWS. May 16, 2013. The First Vice Prime Minister of Ukraine has commented activization of fraudulent schemes in the financial market and plans of Government to prevent organization of pyramid mechanisms to deceit citizens.

So, Serhiy Arbuzov noted that fight against financial pyramids on the legislative level is just beginning. “There has been registered in the Parliament and will be voted the draft law within nearest time “On the ban of financial pyramids in Ukraine”. The aim of the document is to protect citizens from scammers acting in the financial market the number of whom has grown rapidly over the slowdown period. To prevent the development of fraudulent schemes the draft document introduces criminal responsibility for those who create financial pyramids to be imprisoned for up to eight years,” the First Vice Premier underlined.

Serhiy Arbuzov added the Government watches thoroughly the situation in the market and elaborates actively the measures to counteract to adaptation of criminal business with legal methods of fight against financial fraud.

“The law will become the basis, the ground for the system and operative fight against the development of criminal business. The Government is already involved into a rather constructive activity with association of entrepreneurs and the society concerning cease of any possible methods of financing the deception of Ukrainians,” he announced.

Besides, according to him, within nearest time there will be elaborated measures to fight against financial pyramids in stock market, activity of pseudo forex brokers, who propose to Ukrainians to earn in international currency market.

Serhiy Arbuzov underlined the profile ministries will fill the law “On ban of financial pyramids” with clear criteria which enable to clearly differentiate pyramid manipulations from legal financial services. 

“I can assure that fair entrepreneurs who act in the financial market will not suffer. I am convinced that both business and the state will benefit from the determined transparent rules of game in the financial services’ market,” summed up the First Vice Prime Minister.