The article is devoted to a comprehensive study of the status, structure and dynamics of economic crime in the penitentiary system of Ukraine. The study revealed that this type of crime is most often committed in medium-security penitentiaries (52.5%), pre-trial detention centres (30.0%) and correctional centres (10.3%). The study of the dynamics of crime in the penitentiary sphere showed that it fluctuates and has remained relatively stable over the past five years. The study of the causes and conditions of criminal behaviour in the penitentiary system showed that they can be divided into subjective (internal) and objective (external). Based on this, the authors have identified three main internal features related to the issue of determining criminal behaviour: criminogenic motivation, antisocial attitudes in a person's mind and a certain life situation. The authors argue that the main reason for committing criminal offences by the administration and staff of penal institutions of the SPS of Ukraine is the thirst for illegal profit, the development of which is influenced by various factors of both external and internal nature. A special role in this criminal process is played by the professional deformation of the administration and staff of penal institutions. The main reasons for latent crime in the penitentiary sphere are: the secrecy of penitentiary institutions from society; the presence of professional and organised crime in the penitentiary sphere; low legal awareness of prisoners; lack of proper material and technical support; and the reluctance of prisoners themselves to report facts of criminal offences they know.