scholarly journals Management of financial and economic security of a modern bank: remote maintenance risks

2017 ◽  
Vol 5 (1) ◽  
pp. 62-70
Author(s):  
Ольга Шумилина ◽  
Ирина Езангина ◽  
Irina Ezangina
Keyword(s):  
Financial Literacy ◽  
Financial Stability ◽  
Banking System ◽  
Main Tool ◽  
State Institution ◽  
Economic Security ◽  
Cyber Attacks ◽  
Remote Access ◽  
Credit Institution ◽  
Dual Nature

The paper emphasizes that the variety of products offered by a modern bank in the remote access mode, its permanent renewal, integration services increase the downside risks to economic and financial security of the credit institution. Risks writers associated with cyber attacks as the main tool of remote financial fraud, which is confirmed by reliable statistical material. Analyzed species, tools, the initiators of the attacks proved their dual nature associated with purposefulness as well as the infrastructure of the credit institution and its customer base. Continuing studied private practice to counter cybercrime. The conclusion about the significance of direct and indirect participation of the state institution to ensure financial stability of the banking system as the basis of its economic security. Special attention is given to describing the activities of the prospects created by the Chief of Security and Information Protection of the Bank of Russia, as well as a mechanism to increase the financial literacy of the population in order to minimize the risk of fraud by unscrupulous market participants

scholarly journals РЕГУЛЮВАННЯ ДІЯЛЬНОСТІ БАНКІВСЬКОГО СЕКТОРА У КОНТЕКСТІ ЗАБЕЗПЕЧЕННЯ ЙОГО ЕКОНОМІЧНОЇ БЕЗПЕКИ

2020 ◽  
pp. 91-98
Author(s):  
Плукар Л.А.
Keyword(s):  
Financial Stability ◽  
Banking Sector ◽  
Banking System ◽  
Banking Regulation ◽  
Economic Security ◽  
State Regulation ◽  
Crisis Prevention ◽  
Regulation And Supervision ◽  
Systemic Risks ◽  
National Banking System

The article substantiates the need to regulate the banking sector to ensure economic security of its operation. The main tasks of state regulation and supervision of the banking sector have been identified. The types of existing models of the institutional structure of the system of banking regulation and distribution of powers between prudential supervisors are revealed. Requirements for the development of a model of regulatory policy in the banking sector of Ukraine have been formed. The necessity of creating early crisis prevention systems (macroeconomic, based on warning indicators), monitoring of systemic financial institutions, application of macroprudential analysis with regular publication of a strategic document - the Financial Stability Report. The foreign experience of macroprudential regulation and supervision with the help of established specialized divisions of central banks on financial stability and security is reflected. The creation of a separate unit of financial stability and security in Ukraine was initiated, reporting directly to the Chairman of the NBU. The scheme of correlation of subjects of management and tools of maintenance of economic safety of national banking system with separation of subjects of management of economic safety of banking sector, tools of maintenance of economic safety of banking sector at the international and national levels of banking supervision is developed. The implementation of the principles of the Basel Accords in the activity of the banking system of Ukraine is determined as a determining factor in strengthening its financial stability and economic security. The issue of trust in the banking system is one of the main criteria for success, efficiency and security of the banking sector of the economy of each state. The need for monitoring and management of systemic risks has been proved.

scholarly journals Banking system of the country: Elements, functions and potential in ensuring economic growth

2020 ◽  
Vol 23 (10) ◽  
pp. 54-67
Author(s):  
Marta Barna ◽  
Nadiya Ruschyshyn
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Financial Stability ◽  
Structural Changes ◽  
Banking System ◽  
Structural Features ◽  
Economic Security ◽  
Original Position ◽  
Institutional Economic ◽  
Definition Of

The banking system plays an important role in the development and functioning of the country’s economy. The purpose of the study was to investigate and summarise the content of the banking system, considering its elements, functions, and potential for economic growth. During the research the following methods were used: theoretical generalisation, system approach, abstract-logical, and logical-analytical. The study examines the statements of scientists on the definition of the banking system from the standpoint of its legal basis and content. The composition of the elements of the banking system is considered in view of the objectively existing integration processes. It was emphasised that it is appropriate to consider the aspect of globalisation when generalising the essential, as well as the criterial features of the banking system. A study on the institutional and institutional-economic approaches to the functioning and development of the banking system. It was determined that the banking system is a sphere of procurement of a number of financial services and through its functioning and development effective levers of regulation are acquired. The study noted the features of the banking system must include the parameters of liquidity and financial stability, sufficient capitalisation, profitability, protection from internal and external risks and threats, financial and economic security, adaptability to the global, and macroeconomic environment. It is advisable to consider such structural features as the ratio of internal and external banking capital, the ability to develop in accordance with modern requirements in terms of information technology progress, information society, and digitalisation of business communications in generalising the essential features of the banking system. Further clarification of the criteria of the banking system will make provision for their identification at the level of each of its elements. The functions of the banking system were identified and generalised. The composition of the applied approaches to the essence of the banking system were expanded and supplemented with structural, security, and strategic ones. The integration of existing and new views on the concept, structure, functions, and role of the banking system in the economy allowed to develop an original position on the content of the concept of the banking system. Structural changes in the country’s economy have a significant impact on the functioning of the banking system. This, in turn, requires the identification of priority areas for structural reform of both the economy as a whole and the banking system, which, in fact, will be the subject of further research

scholarly journals INFORMATION SECURITY OF SMALL BUSINESSES IN THE CONTEXT OF DIGITALIZATION

2021 ◽  
pp. 105-114
Author(s):  
L.V. Gorodianska ◽  
L.V. Tsiukalo
Keyword(s):  
Information Security ◽  
Small Businesses ◽  
Service Providers ◽  
Action Plan ◽  
Economic Security ◽  
Cyber Attacks ◽  
Remote Access ◽  
Security Measures ◽  
Business Climate ◽  
Corporate Network

The article defines and analyzes the characteristic features of modern society digitalization, in particular the digital economy. It is noted that progress in the digital technology environment requires the application of information security measures, primarily in the financial and economic activities of small businesses. The interpretation of the definitions «information security» and «economic security» has been clarified. Attention is drawn to a conscious understanding of the interaction between people and technology during the digital transformation of the economy in such a way that the latest technologies must adapt to people, and not vice versa. It is emphasized that such an understanding can come only in the process of training and acquiring appropriate professional competencies, especially among small businesses. The types of small businesses information that are subject to protection and components of economic security are determined. Proposals have been formed for the creation of a comprehensive security program, which should include an action plan aimed at protecting the functioning of the enterprise's information system from external and internal influences, and a set of measures designed to protect the confidentiality, availability, and integrity of data from internal and external, malicious and accidental threats. Information security of small businesses in the context of digitalization should be based on the following positions: the management of the enterprise should regularly train all employees in the principles of Information Security, data protection and protect physical data carriers from cyber attacks; the corporate network should be segmented, and access to it – controlled; partnership with service providers from the point of view of information security should be equivalent; remote access to the corporate network of the enterprise, which is now becoming more widespread, should be as secure as possible and comply with information security standards. A promising area of further research is the development of a set of measures at the state level, which includes streamlining the simplified tax system, promoting the development of innovative entrepreneurship, cluster organization of small businesses, the formation of a modern information infrastructure to support entrepreneurship, the formation of a favorable business climate.

scholarly journals Accounting for operational risk in credit institutions while improving the bank’s economic security

2020 ◽  
pp. 59-70
Author(s):  
Natalya Filimonova ◽  
Ol'ga Luskatova ◽  
Marina Roberts
Keyword(s):  
Banking Sector ◽  
Banking System ◽  
Operational Risk ◽  
Economic Security ◽  
Credit Institution ◽  
Factors Affecting ◽  
Operational Risks ◽  
System Methodology ◽  
Credit Institutions

The article considers the economic security of the banking system as an integral part of the national security of the country. Approaches to the assessment of the concept and factors of economic security of credit institutions are studied, the state of the banking sector for the period 2018—2020 is analyzed, development problems and factors affecting the level of economic security of banks are identified. The role of accounting for operational risks in ensuring and improving the economic security of a credit institution is described using the example of Sberbank. Measures to limit operational risk are presented, and the effectiveness of proposals is calculated using the CAMELS rating system methodology.

scholarly journals DEVELOPMENT OF A MECHANISM FOR MANAGING THE INCOME OF FINANCIAL AND CREDIT INSTITUTIONS IN THE CONTEXT OF ECONOMIC MODERNIZATION

2021 ◽  
Vol 80 (1) ◽  
pp. 53-58
Author(s):  
G. P. Koptayeva ◽  
◽  
M. Kanabekova ◽  
Ye. Zh. Yertayev ◽  
A. B. Orazbayeva ◽  
...  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Banking Sector ◽  
High Efficiency ◽  
Banking System ◽  
Economic Security ◽  
Practical Implementation ◽  
The Stability ◽  
Definition Of ◽  
Credit Institutions

The research is caused, firstly, by the need to specify the definition of financial and credit institutions as subjects of the banking sector of Kazakhstan, analyze and evaluate existing approaches to managing their stability in the strategic aspect and identify factors (possible threats and dangers) that lead to loss of financial stability, and, secondly, by the need to develop a mechanism for managing the financial profitability of financial and credit institutions, ensuring their stable position both in the short and long term. To improve the quality of financial management and ensure the profitability of financial and credit institutions, it is necessary to justify and develop a strategy for managing their financial stability. At the same time, it should be borne in mind that even with high efficiency and profitability, insufficient attention to the issues of ensuring the stability and economic security of financial and credit institutions can lead to financial difficulties for them. Taking into account the problems discussed above, the relevance of issues related to improving the stability mechanism of financial and credit institutions has significantly increased, as has the need to find a new methodological apparatus aimed at adapting and studying foreign experience and its practical implementation in the domestic banking system.

scholarly journals Pragmatics and problemmatics of the banking sector functioning in Ukraine

2018 ◽  
Vol 2 (1) ◽  
pp. 15-25
Author(s):  
Oksana Redkva
Keyword(s):  
Economic Development ◽  
Financial Literacy ◽  
Financial Stability ◽  
Banking Sector ◽  
Banking System ◽  
The State ◽  
Economic Downturn ◽  
Bank Capital ◽  
Macroeconomic Factors ◽  
Banking Institutions

Introduction. The permanent occurrence of crisis phenomena in the Ukrainian economy requires the state authorities and the National Bank to search for effective and optimal ways to overcome the economic downturn. Among the important elements in building a system of measures to counteract the recession and stimulate stable economic growth is to ensure a high level of financial stability of the banking system of the country. The banking system has key functions in the mechanism of implementation of the state economic policy to counteract the emergence of negative trends in both the real and financial sectors of the economy. In connection with this, the urgency of the issue of ensuring the proper level of functioning of the banking system is violated. Aim and tasks. The purpose of the research is to deepen the theoretical positions regarding the problematic aspects of the activities of banking institutions and to develop practical recommendations for improving the efficiency of their functioning in Ukraine. Research results. The paper examines the current state of functioning of the banking sector. On the basis of the conducted research, the existence of direct and indirect influence on functioning of the banking system in Ukraine was noted. The existence of the relationship between the main macroeconomic factors and functioning of the banking sector has been proved. By means of mathematical tools, a direct correlation between the growth of gross domestic product and the growth of net bank assets was established. The positive foreign experience of countries with transition economies, which managed to ensure the efficient functioning of the banking system has been considered. The promising measures that will promote the improvement of the banking system and stimulate economic development have been outlined. Conclusions. The analysis of the status of banking institutions indicates the need for changes and effective reforms in the banking system. Realization of any type of reforms carries both potential advantages and the possibility of occurrence of certain risk situations. Therefore, it is expedient and consistently to outline a list of measures that will promote the improvement of the banking system and stimulate economic development, namely: a systematic approach to solving the problem of asset quality; increase of the savings base, which will allow to expand lending; strengthening of the requirements for disclosure of information about the financial status, ownership and management structure of banks; increasing financial literacy of the population; provision of corporate governance of banks on the basis of the best world standards; carrying out constant supervision of the degree of concentration of bank capital in terms of the country and its origin.

STATE REGULATION OF BANKING ACTIVITY IN UKRAINE

2017 ◽  
Author(s):  
Olha Drachevska
Keyword(s):  
Financial Stability ◽  
Banking System ◽  
Banking Regulation ◽  
State Regulation ◽  
The State ◽  
Protective Measures ◽  
System Protection ◽  
Banking Activity ◽  
National Bank ◽  
Threatening Situation

The article is devoted to the analysis of scientific approaches to the interpretation of the concepts of "state regulation", "state regulation of banking", "banking regulation" and the measures on which the state regulation of banking is based. An analysis of the scientific literature in various fields allows us to conclude that scholars ambiguously interpret the term "state regulation of banking." Most often, state regulation of banking is seen as a system of measures by which the state through authorized bodies regulates the activities of banks. The domestic legislator considers the concept of "banking regulation" as one of the functions of the National Bank of Ukraine, which is to create a system of norms governing the activities of banks, determine the general principles of banking, banking supervision, liability for violations of banking legislation. The main purpose of banking regulation is security and financial stability of the banking system, protection of the interests of depositors and creditors. The importance of state regulation of banking as an integral part of public policy is emphasized. Effective state regulation of banking activities should ensure stable and uninterrupted operation of the banking system, guarantee the provision of quality services by banks to depositors and borrowers and protect their interests. Preventive and protective measures on which the state regulation of banking activity in Ukraine is based are considered. Preventive measures should be implemented through the approval of mandatory regulations. The application of protective measures should provide protection against the already threatening situation for the bank. Attention is also paid to the forms in which state regulation of banks by the National Bank is carried out. Such forms are administrative regulation and indicative regulation.

The Threats of Ukraine Financial Security: Identification and Systemization

2019 ◽  
pp. 73-80
Author(s):  
Oleksandra Maslii ◽  
Andrii Maksymenko ◽  
Svitlana Onyshchenko
Keyword(s):  
Financial Stability ◽  
System Development ◽  
Financial System ◽  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Monitoring And Control ◽  
Development Indicators ◽  
Security Indicators ◽  
And Control

Place of monitoring and control of risks of financial stability of the state in the system of ensuring financial security of the state was substantiated. Methods of identifying threats to Ukraine's financial security through the current and strategic analysis of financial system development indicators were considered. Tendencies of economic development of Ukraine in the context of revealing sources of threats to financial stability of the state were analyzed. Dynamic analysis of the actual values of the financial security indicators of Ukraine as a whole and its separate components had been carried out. Threats to Ukraine's financial security were identified based on comparative and trend analysis. Reasons for the critical state of debt, banking and monetary security in the financial structure and the preconditions for the emergence of systemic threats had been investigated. Systematization of risks and threats to Ukraine's financial security by its components had been carried out. Influence of systemic threats in the financial sphere on the economic security of the state was generalized. International experience of monitoring financial stability of the state was analyzed. Additional risks to the national financial system are associated with the globalization and digitization of the state financial system that are not taken into account by valid methodological recommendations for calculating the level of economic security of Ukraine were highlighted.

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