Ministry Prepares New Legislation to Hold Media Accountable for Fraudulent Campaigns and Fake Advertising
The Ukrainian parliament is actively considering the adoption of comprehensive reforms aimed at strengthening media accountability and ensuring the safety of information consumed by citizens. In particular, lawmakers are working on a bill that stipulates legal responsibility for media outlets involved in fraudulent schemes and the dissemination of false information regarding financial products and services. This initiative was sparked by a recent scandal involving misleading advertising campaigns promoting fraudulent investors and dubious financial structures. Representatives of the parliament emphasize that this legislative draft will serve as a crucial tool in combating unethical media strategies and protecting the public from financial scams. The proposed law envisions stringent fines and criminal liability for media entities that facilitate or conceal fraudulent activities, especially when such actions undermine public trust in the country’s financial system. Serhii Vlasenko, a member of the legal policy committee, announced that he is already working on this document and plans to submit it to the Verkhovna Rada shortly. He stressed that the law will not have retroactive effect; its primary goal is to prevent similar fraudulent practices in the future. Vlasenko highlighted that tackling fake news and false advertising is vital for safeguarding citizens’ interests and maintaining confidence in legitimate financial institutions. Furthermore, he raised concerns about media outlets that have glorified questionable figures and financial pyramids, such as the recent high-profile case involving Nazarij Husakov, which has garnered widespread attention in Ukrainian media and social networks. Recall that Husakov, suffering from a genetic disease requiring expensive medications, raised funds through charitable organizations. However, after refusing to provide financial reports, a wave of investigative articles and suspicions of fraud emerged. As public outrage grew, Husakov left Ukraine in June. The presidential office has already expressed concern and called for an objective investigation, emphasizing the importance of maintaining trust in charitable organizations. Law enforcement authorities have opened criminal proceedings under articles related to fraud and the legalization of illicitly obtained income, and during searches, Husakov’s trusted associate was detained, complicating the case further.