scholarly journals The Innovative Approach to Increasing Cybersecurity of Transactions Through Counteraction to Money Laundering

2019 ◽  
pp. 308-326 ◽  
Author(s):  
Serhiy Lyeonov ◽  
Оlha Кuzmenko ◽  
Hanna Yarovenko ◽  
Tatiana Dotsenko
Keyword(s):  
Money Laundering ◽  
Central Government ◽  
Developed Countries ◽  
Economic Security ◽  
Security Level ◽  
Gravity Modelling ◽  
Minkowski Metric ◽  
Internally Displaced ◽  
Welfare Level ◽  
High Level

A current task is to provide the economic security of any country in the context of creating effective and reliable measures of the banking cybersecurity system against money laundering. First of all, it relates to the fact that the money laundering processes and financing of terrorism negatively influence the economy of any country and reduce the economic security level. Secondly, the high level of money laundering in the country promotes the emergence of such negative processes as corruption, extortion, drug production, people smuggling, gangsterism, terrorism, which leads to an increase of the crime situation in the country and endangers the lives of the population. Thirdly, the existing cybersecurity measures of banks do not affect the security of transactions in a timely manner to identify funds obtained illegally. Therefore, exactly this aspect is required changes and modernization in order to accomplish the task. The aim of the article is to develop the innovative scientific and methodic approach to the country’s attractiveness modelling for proceeds laundering by other countries. This technique is one of the tools of the bank’s cybersecurity system for making further decisions regarding the risk of legalization. In order to solve this problem authors suggest the approach, which is based on gravity modelling. Eight factors: Gross Domestic Product per capita, Claims on the central government, Internally displaced persons, associated with conflict and violence; Automatic Exchange of Information; Corruption Perceptions Index; Global Terrorism Index; Legatum Prosperity Index; Happy Planet Index are proposed to be evaluated using the expert approach to implement the above approach. Then the integral indicator is calculated using the Minkowski metric and taking into account the factors normalization. Using the gravity model, the country’s attractiveness degree considering is defined for proceeds laundering on the part of another country. Data for 105 countries are used for calculation and results for Ukraine, Poland and Germany are represented. As a result, we can see that developed countries with high welfare level are attractive for developing countries for money laundering, countries with low welfare level, low economic development and unstable political situation are attractive for the developed countries. The proposed methodology is recommended to be introduced in the activity of banks' cybersecurity systems. It will allow identifying transactions of those countries for which the risk of legalization is high and introduce additional monitoring to regard the legitimacy of their financial sources. In addition, it is expedient to use the model in the activities of the country’s regulatory authorities, which will promote the introduction of cybersecurity standards and increase the ethics of financial relations between countries. Keywords: cybersecurity, money laundering, gravity modelling, country attractiveness, risk, expert approach, normalization, Minkowski metric.

scholarly journals Evaluating the threat to national information security

2020 ◽  
Vol 18 (3) ◽  
pp. 195-210 ◽  
Author(s):  
Hanna Yarovenko
Keyword(s):  
Developing Countries ◽  
Information Security ◽  
Developed Countries ◽  
Economic Security ◽  
Security Level ◽  
Security Threat ◽  
Development Indicators ◽  
Threat Index ◽  
High Level ◽  
National Information

An effective strategy for managing the national information security with capabilities to resist information threats significantly impacts its further development. This study aims to assess the level of threat to the information security of countries based on the integral index. It is proposed to use five indicators characterizing individual areas of information security and 37 world development indicators, selected from the World Bank database. Correlation analysis selected 12 out of 37 development indicators relevant to security indicators for which the correlation coefficient exceeded 0.5 or –0.5. The Harrington-Mencher function is proposed to determine the information security threat index. Nonlinear normalization was carried out to bring the initial data to a comparable measurement. Canonical analysis was performed to determine the indicator weights. The data from 159 countries were taken for 2018 to assess the index. The result was presented on the map showing countries’ distribution by the information security threat index, thus forming five groups. The group with a “very well” resistance to threats includes economically developed countries with a high level of information security. The “well” group was formed by new industrial and developing countries with economic potential sufficient to prevent information threats and combat their consequences. The information security level in developing countries, where the results of overcoming information threats will affect the economic sphere, is defined as “acceptable”. Countries with a low level of development and information security formed groups designated as “bad” and “very bad”, which indicates a high level of threats to their information security. AcknowledgmentThis work is carried out with in the tax payer – funded researches: No. 0118U003574 “Cybersecurity in the banking fraud enforcement: protection of financial service consumers and the financial and economic security growth in Ukraine”.

scholarly journals The Role of European Integration in Ensuring Economic Security

2019 ◽  
pp. 53-59
Author(s):  
A. Stavytskyy
Keyword(s):  
European Union ◽  
Decisive Role ◽  
Economic Security ◽  
European Countries ◽  
Transport Infrastructure ◽  
Security Level ◽  
The European Union ◽  
Factors Affecting ◽  
Security Index ◽  
High Level

The paper considers the issue of ensuring the level of economic security in Europe. Based on the panel gravity model, a regression was estimated for 49 European countries for 1991–2017. The investigation tested six different hypothesis about the channels of dissimilation of economic security level in Europe. The results provided an opportunity to determine the factors affecting the spread of a high level of economic security to neighbouring countries. It was stated that some factors play an important role in the process of exchanging best practices, technologies, human capital, etc. In particular, such factors can be mentioned: the economic security index of the neighbouring country, the difference in the indices of economic security between countries, the distance between countries, the existence of common borders, the country’s participation in the European Union, the introduction of the euro in the country. It was shown that European countries have not yet exhausted the potential of developing their own economic security. For example, the expansion of the European Union, of course, subject to the principles of its functioning, can increase the general security level by about 1,5 %. Also, it was stated that distances cease to play a decisive role for the spreading the technologies, goods, services. This means that taking into account the development of Europe’s transport infrastructure, it is possible to quickly disseminate the latest trends in economic security among countries. Economic growth and equalization in economic conditions offset the differences between countries. The growth of the economic security index in neighbouring countries is sufficiently significant. Thus, it is beneficial for all countries to have prosperous neighbours around them. At the same time, an increase in the economic security index is possible only with a significant increase in competition.

Digitalization Security as a Marker of Modern Mechanical Engineering Technology Implementation in the Context of Ensuring Strategic Economic Security of Enterprises

2021 ◽  
Vol 18 ◽  
pp. 117-125
Author(s):  
Ievgeniia Mishchuk ◽  
Svitlana Rebrova ◽  
Petro Krush ◽  
Dmytro Zinchenko ◽  
Kateryna Astafieva
Keyword(s):  
Information Security ◽  
Technology Implementation ◽  
Economic Security ◽  
Machine Building ◽  
Security Level ◽  
Security Assessment ◽  
Engineering Technology ◽  
Economic Information ◽  
High Level ◽  
The Impact

The article demonstrates the impact of digitalization security on implementation of modernengineering technologies, substantiates their connections with provision of the strategic economic security of anenterprise, presents enhanced methods of assessing the current economic-information security of an enterprise’sinterests. The developed methods of digitalization security assessment have been tested at machine buildingenterprises of Ukraine. The security level has proved to be medium or low at most enterprises under study. Thework substantiates that absence of the systematic personnel policy aimed at personnel’s acquiring competences4.0, deficit of financing technologies 4.0 implementation, a low level of IT capital make it impossible to ensurea high level of strategic economic security at Ukraine’s machine building enterprises.

scholarly journals Updating Approaches to the Assessment of the Economic Security Level of an Enterprise

2020 ◽  
pp. 234-243
Author(s):  
Viktoriya Kudrevich ◽  
Oksana Trilitskaya ◽  
Yuliya Pechak
Keyword(s):  
Economic Security ◽  
Security Level ◽  
Financial Conditions ◽  
Modern Enterprise ◽  
Separate Area ◽  
Methodological Approaches ◽  
The Republic ◽  
Crisis Conditions ◽  
High Level ◽  
The Relationship

The crisis conditions of economic development, the growth of the number of unprofitable enterprises, high level of bankruptcy and other unfavorable economic factors encourage the search for ways to improve the efficiency of economic entities and ensure their stable functioning. One of these areas is the provision of the economic security of an enterprise. The ways to ensure the economic security of enterprises have many features, so recently this problem has become a separate area of research. The purpose of the article is to determine and summarize the criteria and methods for the assessment of financial and economic security of domestic enterprises, establish the relationship between them on the basis of the analysis of existing scientific approaches. The paper presents the systematization and generalization of scientific works of many scientists, analyzes the existing conceptual apparatus of determining financial and economic security of an enterprise, and generalizes scientific approaches to the assessment of the level of financial and economic security at the macro level. The article analyzes the methods and approaches used to determine the level of economic security of a modern enterprise. The article defines the dependence between indicators of financial and economic activity of enterprises and a condition of their economic safety. The authors make the generalization of existing methods of assessing the economic security of an enterprise, analyze their features, and choose the methods which are expedient to the use in the diagnostics of economic security of a modern enterprise. The researchers analyze economic security of one of the largest enterprises of the Republic of Crimea – PJSC “Crimean Soda Plant” according to a set of indicators for the assessment of financial conditions and define the indicators and boundaries above (below) which the enterprise under analysis faces financial crisis. The prospect of further research in this direction is the choice of criteria (indicators) for the assessment of economic security of an enterprise, system of indicators charactering it, and methodological approaches determining the level of financial and economic security.

scholarly journals Characteristics of the level of economic security of Ukraine in the agrarian sector

2018 ◽  
Vol 6 (2) ◽  
pp. 76-88
Author(s):  
Oksana Sokil ◽  
Iveta Ubrežiová ◽  
Erik Janšto ◽  
Silvia Lenčéšová
Keyword(s):  
Negative Attitude ◽  
Well Being ◽  
Jel Classification ◽  
Economic Security ◽  
Security Level ◽  
Agrarian Sector ◽  
Survey Results ◽  
Questionnaire Method ◽  
High Level ◽  
Negative Factors

Purpose. Economic security is an important component of any system, whether it is a state or a society, or a family. It reflects the ability to maintain and create conditions for restoring economic well-being and protecting interests. According to the political situation in Ukraine, the protection of economic security has become one of the most important issues for resolution. In recent years, the agrarian sector has become one of the key parts for GDP since the industrial business has now turned to the background. The purpose of the article is to determine the economic security level in the agrarian sector. Methodology. The authors have used the questionnaire method and have made a survey in 67 Ukrainian companies which are operating in the agriculture in the Lviv region, Ukraine. The survey was conducted from June to July 2018. Findings. Survey results show that enterprises have an extremely negative attitude to the state of economic security of the country. However, it should be noted that entrepreneurs believe that the level of economic security of their business is at a higher level in comparing with the level of economic security of the country. Research limitations/implications. As noted above, the study was conducted at 67 agribusiness enterprises in the Lviv region. In the future, this study may be the basis for the same research in other regions of Ukraine. Practical implications. In the questionnaire template, we have made the list of methods which can help to prevent the effects of negative factors that could damage the company's economic security. The list of these measures can be used by enterprises in practice to ensure a high level of its security. Originality/Value. It should be noted that the originality of our work is that we have combined the research of two areas: the economic security of the company and agribusiness. We have identified the main problems of agrarian sector in ensuring the economic security of enterprises and provided a list of methods to improve the level of this type of security, the use of which will lead to a better functioning of the firm. Keywords: economic security, agrarian sector, GDP, Ukraine; Research type (choose one): research paper. JEL classification: О11, О13, Q12.

scholarly journals Economic Security Management of Insurance Services Market of Ukraine: The Theoretical Aspects and Practical Recommendations

2021 ◽  
Vol 8 (523) ◽  
pp. 156-162
Author(s):  
R. V. Kobko ◽  
Keyword(s):  
Rapid Change ◽  
Influence Factors ◽  
Developed Countries ◽  
Economic Security ◽  
State Regulation ◽  
The State ◽  
The World ◽  
High Level ◽  
Practical Recommendations

The article is aimed at defining the theoretical aspects of managing the economic security of the insurance services market of Ukraine, searching for ways to develop special practical recommendations to solve the outlined problem. In the context of transformational changes and globalization metamorphoses, the issue of ensuring a high level of economic security of the insurance services market in Ukraine is one of the priorities. The article discusses the risk factors influencing the provision of a high level of economic security of the insurance services market of Ukraine, analyzes the mechanisms for managing the economic security of the insurance services market. Particular attention is paid to the characterization of models of the State regulation of economic security of the insurance services market of the countries of the world, which helps to form the main emphasis on the state of development of the insurance services market of Ukraine. The practice of developed countries of the world indicates the inadmissibility of such a mechanism for ensuring economic balance as insurance premiums, and the need to focus on the formation of insurance reserves. Based on the practice of the developed countries of the world, it is advisable to summarize the mechanisms for ensuring the economic security of the insurance services market as a single system, monitoring of which will ensure systematic economic development, quick managerial decisions in transformational conditions and attraction of investment funds for long-term strategic planning. In addition, the article draws a parallel between ensuring a high level of economic security of the insurance services market and the development of the Ukrainian economy in the context of a rapid change in external influence factors, involving priority mechanisms for ensuring the long-term investment development of the country. The main directions of improvement of the State regulation of economic security of insurance services market are proposed.

scholarly journals DIAGNOSTICS AND ANALYSIS OF ECONOMIC SECURITY IN THE REGIONAL MANAGEMENT SYSTEM (USING THE EXAMPLE OF THE NOVOSIBIRSK REGION)

2020 ◽  
pp. 5-10
Author(s):  
M. A. Irkin ◽  
◽  
T. N. Cherepkova ◽  
Keyword(s):  
Economic Security ◽  
Security Level ◽  
Employment Level ◽  
Investment Activity ◽  
Novosibirsk Region ◽  
Fixed Assets ◽  
High Employment ◽  
Security Indicators ◽  
High Level

The increasing role of the economic security of particular regions is characteristic of the present time since the totality of their indicators largely determines the level of national security. Therefore, in management, one should pay significant attention to the issues of increasing economic security in the region. The paper presents the study of economic security indicators in the Novosibirsk region. The authors analyzed some specific indicators and indices necessary for the formation of a comprehensive opinion on the economic security level of the territory, such as real incomes of the population, the employment level, depreciation of fixed assets in the region, the share of foreign investments in the total volume of investments in fixed assets, the growth rate of real incomes, and others. The analysis of economic security indicators allowed identifying some factors that should be given special attention. When managing the economic security of the Novosibirsk region, it is necessary to focus on reducing the population with substandard incomes, increasing the investment activity of citizens, and the attractiveness of the territory for foreign investors. The authors analyzed the level of economic security of the Novosibirsk region. The study revealed both the positive factors in this aspect and some indicators, the value of which causes significant anxiety. Among the positive factors, it is necessary to note the high employment of the population and low unemployment, as well as the indicators showing the R&D investments, which can have a positive effect on the scientific and innovative development of the region. Among the negative indicators, one can note a high level of poverty and low investment activity in the territory.

scholarly journals ECONOMIC SECURITY OF PRIVATE ENTERPRISES

2018 ◽  
Vol 2018 (9) ◽  
pp. 60-73
Author(s):  
Hanna BLAKYTA ◽  
◽  
Viktoriia MELNYK ◽  
Olena PURDENKO ◽  
Keyword(s):  
Financial Stability ◽  
High Efficiency ◽  
Legal Protection ◽  
Developed Countries ◽  
Economic Security ◽  
The State ◽  
Private Enterprises ◽  
Main Components ◽  
Definition Of ◽  
High Level

The article is devoted to the definition of the essential characteristics of economic security of private enterprises and its main components; it is proposed to expand the main structural elements of the system of economic security of private enterprises. The main functional objectives of economic security are: ensuring the high financial efficiency of work, financial stability and independence of private enterprises on a industry scale; ensuring technological independence and achieving the high competitiveness of the technical potential of small business enterprises; achievement of high efficiency of management; achievement of a high level of personnel qualification and its intellectual potential; Minimizing the devastating impact of the results of industrial and economic activity on the state of the environment; qualitative legal protection of all aspects of the activity of private enterprises, etc. It is proposed to consider the system of economic security of private enterprises as an integral set of subjects and objects of security, an environment that ensures their interaction and purposeful activity in the internal and external environment in relation to countering threats, protection of economic interests and, in general, creation of safe conditions for functioning at the planned level indicators. Attention is drawn to European experience and standards in the field of business security, but to take into account the fact that private enterprises of Ukraine are forced to operate in more difficult and dangerous conditions than in developed countries, therefore, during the period of the current stage of reforms in the sphere of private entrepreneurship, it is recommended to introduce normative and legal base which would fine-tune the peculiarities of functioning of private enterprises and create favourable conditions for the emergence of the economic crisis in order to create a reserve of strength in the event of unforeseen circumstances, as private enterprises are a significant component of the economic security of the state.

scholarly journals Concept and Method for Determining Economic Security Level of Innovative Enterprises

2020 ◽  
Vol 8 (6) ◽  
pp. 2024-2031
Keyword(s):  
Economic Security ◽  
Security System ◽  
Security Level ◽  
General Terms ◽  
Individual System ◽  
Expert Analysis ◽  
Innovative Enterprise ◽  
High Level ◽  
Enterprise Security ◽  
Integral Indicator

The study focuses on the organization of the economic security system in innovative enterprises that are most affected by external and internal factors due to the presence of a high degree of uncertainty. The essence and principles of economic security, as well as the reasons that reduce the high level of security of the enterprise, are determined. Based on the results of studying the problem, the stages to increase the economic security level are highlighted in general terms. The need for continuous monitoring of the company's state has predetermined the development of an economic security system that contains responsibility centers, a set of indicators, information flow channels, security improvement directions, and measures to eliminate or prevent threats. The main part of the study is the author's method of assessing the economic security level, based on the use of an integral indicator, which is interpreted using a ten-point scale. The calculation of the integral indicator is based on expert analysis, which assumes the presence of a factor of subjectivism, which is a disadvantage, but it is eliminated with proper selection of specialists in the working group. The article presents a practical example of applying the developed methodology to a specific innovative enterprise using an individual system of indicators. Measures to eliminate problems related to the violation of the innovative enterprise security, are proposed.

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