A qualitative analysis of the current economic situation at the regional level is possible due to the available approaches to identifying the shadow economy’s subjects. Even if successfully applied to a specific subject, the research model can quickly lose its relevance due to technological progress, updatesto the legal framework, and changes in the general approach to managing business entities. Most enterprises combine legal and illegal ways of conducting financial activities and focus on indicative markers of a particular industry or region, which demonstrates the other cause of the reduced effectiveness of previously used calculations. The study reviews the methods of statistical monitoring of the operation of enterprises and entities that allow for detecting signs of shadow economy activity, identifying the most problematic industries in the region, and assessing the damage to its well-being. The indicators are established based on the analysis of officially published statistical data, which makes it possible to determine the proportion of enterprises engaged in shadow activity. A review of existing models will provide a correct approach suitable for the given research conditions and the identification of subjects applying tax avoidance schemes, including those using illegal workers’ labor. Successful operation of models will ensure the correct scientific approach and create the foundation for obtaining high-quality analysis findings.