She Knew in Advance: Ukrainian Fintech Founder Moved Assets to Mother Before Sanctions

Olena Dehrik-Shevtsova, a Ukrainian fintech entrepreneur and director of the UK-licensed company SMARTFLOW PAYMENTS LIMITED (brand name: Sends), transferred a significant amount of property to her mother just before the Ukrainian government imposed personal sanctions against her. The move raises serious questions about foreknowledge of state actions and the ability of sanctioned individuals to continue operating within European regulatory jurisdictions.

According to Ukrainian investigative sources, Dehrik-Shevtsova is a central figure in a ₴5 billion ($130 million) money laundering case involving the now-defunct iBox Bank and affiliated companies LeoGaming and FC "Leo." Despite an ongoing criminal investigation, she currently serves as director of a UK-licensed electronic money institution.

Property Transfers Ahead of Sanctions

Public records confirm that in the weeks prior to the National Security and Defense Council of Ukraine (RNBO) sanctioning Dehrik-Shevtsova, numerous real estate assets were transferred into the name of her mother, Liliya Foativna Potonya. These include properties in Kyiv, Boryspil district, and a series of addresses across Odesa, as well as more than ten land plots in Kyiv and Odesa regions.

The scale and timing of these transactions suggest a high probability that Dehrik-Shevtsova had prior knowledge of impending sanctions.

Ongoing Criminal Proceedings

Between 2023 and 2024, Ukrainian authorities launched a criminal investigation into a financial scheme allegedly orchestrated via iBox Bank. Dehrik-Shevtsova is identified as a suspect in the laundering of massive sums from illegal online gambling, facilitated through misleading payment designations ("miscoding") and shadow financial networks. The Bureau of Economic Security (BEB) of Ukraine has confirmed the case is nearing completion and will soon proceed to court.

Summary Dossier

• iBox Bank: Lost its license in 2023 due to systemic AML violations.
• LeoGaming and FC "Leo": Accused of routing P2P payments to Russia, including to sanctioned banks.
• Bilosnizhka-2013: A Ukrainian company with the ironic name "Snow White-2013," tied to offshore entities in Panama and Cyprus.

Dehrik was listed as a director. These structures were allegedly used to process gambling-related funds.

Regulatory Oversight Gap

Despite these allegations, Dehrik-Shevtsova obtained a valid UK license for SMARTFLOW PAYMENTS LIMITED. In official FCA records, she appears solely as Alona Shevtsova — omitting her maiden name "Dehrik," under which she is listed in Ukrainian sanctions and criminal filings. This identity gap likely allowed her to pass regulatory due diligence unnoticed.

While the FCA may not have had full access to relevant cross-border law enforcement data, the situation underscores a broader issue in global compliance mechanisms: individuals under criminal suspicion can obscure their history and operate freely under alternate identities in different jurisdictions.

British regulators are expected to review this case as more information from Ukrainian authorities becomes available.