Ukraine registered 1,344 money laundering (Article 209) cases in 2025—up from 283 in 2019, almost a 5-fold increase. The estimated value of laundered assets reached UAH 12.35 billion, while only UAH 590 million was frozen. Meanwhile, 609 cases reached court, compared with just 88 six years ago. (⁠Opendatabot) At first glance, this looks like an explosion in financial crime. It isn’t that simple. The surge is driven by three structural changes: • Legislative reform (2020): Art