Armed with new law, Ukraine targets its shadowy banks

KIEV (Reuters) - For the first time in its post-Soviet history, Ukraine now has a law to prosecute bank owners who use their lenders as little more than personal piggy banks.

Under pressure from the IMF, which has agreed a $17.5 billion (11.74 billion pounds) bailout for Ukraine in exchange for reforms, Kiev plans to use the new banking law to start cleaning up an over-populated and corrupt financial system.