scholarly journals Cybersecurity as factor of financial security of the enterprise

2020 ◽  
pp. 31-35
Author(s):  
Oksana MAKOVETS ◽  
Iryna DROZD
Keyword(s):  
Cyber Security ◽  
Personal Data ◽  
Business Environment ◽  
Economic Security ◽  
Financial Security ◽  
Security Measures ◽  
Cyber Threats ◽  
Financial Condition ◽  
It Systems ◽  
Financial Interests

Introduction. As a component of the business environment the information environment is characterized by significant cyber threats and requires cyber protection. The processes of Ukrainian society digitalization and changes in providing the information security update the enterprise's financial security measures and their connection with cybersecurity. The purpose of the paper is to analyze the essence of cybersecurity as a factor of the enterprise's financial security and to identify its impact on the investment attractiveness of the business entity. To achieve the purpose the task is to explore the concepts of financial security, cybersecurity and cyber threats, to identify their relationship and impact on business' financial losses of the, the consequences for the enterprise's investment attractiveness. The study will provide information on business management and plan effective policies to combat cyber threats. Results. The essence of enterprise's financial security is investigated. There are three approaches in identifying the essence of this concept, including as part of the enterprise's economic security, as the state of the most effective use of information, financial indicators and as its financial condition level, which provides stable protection of priority balanced financial interests from real and potential external and internal threats. These definitions are used to substantiate the connection with the concepts of cyber threat and cyber security. The areas of possible losses based on the losses assessment due to cyber threats are identified by the authors, namely the intellectual property loss, the business information loss, the IT systems' continuity disruption, the reputation damage as a result of the attack, the automated personal data loss. Conclusion. It is concluded that the necessary measures of cybersecurity, protection of enterprises' information resources and prevention of unauthorized interference in the enterprises' activities, which has a positive effect on investment attractiveness and increases the enterprises' competitiveness.

scholarly journals THE THEORETICAL BASIS OF ENTERPRISE FINANCIAL SECURITY AND THE MECHANISM OF ITS MANAGEMENT

2019 ◽  
pp. 80-87
Author(s):  
N. Pihul ◽  
A. Khomutenko
Keyword(s):  
Financial Analysis ◽  
Security Analysis ◽  
Security Management ◽  
Economic Security ◽  
Point Of View ◽  
Complex Nature ◽  
Financial Security ◽  
Financial Activity ◽  
Financial Condition ◽  
Financial Interests

The paper describes concept of "enterprise’ financial security" in modern conditions and compares the main approaches to its definition taking into account the complex nature of this economic category (from the point of view of the object of paramount attention, the task of the security system and the criterions of security). The authors identified two approaches to understanding the financial security of the enterprise: the first approach, which considers financial security in terms of the enterprise’ ability to withstand the threats of the internal and external environment; the second approach determines the enterprise’ financial security as the ability of the enterprise to perform its activities effectively in an uncertain and competitive environment. In addition, the study identified the essence of enterprise’ financial security management, its purpose, objectives, functions, principles, mechanism and basic elements of management. In the course of the research it was found that the most important in the enterprise’ financial security management is to built adequate mechanism of financial security management. The authors define such mechanism, as a set of basic influence’ elements on the process of development and implementation of management decisions to ensure the protection of his financial interests against various threats. Moreover, the authors investigated the systems of enterprise’ financial security analysis, which allow to investigate the financial condition and main results of financial activity of the enterprise in order to determine the level of protection of his financial interests from threats and identify the reserves for its improvement. The system of integral analysis was defined as the system that gives the most solid conclusions about the state of financial security. The main reason for this is that above mentioned system allows to conduct a deeper financial analysis, to evaluate the main areas of financial activity of the enterprise and to aggregate the obtained data into one indicator. Keywords: enterprise's economic security, enterprise's financial security, mechanism of the enterprise`s financial security, management of the enterprise`s financial security.

ASSESSMENT OF THE COMPANY'S FINANCIAL SECURITY

2020 ◽  
Author(s):  
Юлия Сергеевна Холопова ◽  
Алексей Георгиевич Ильмушкин
Keyword(s):  
Economic Security ◽  
Competitive Environment ◽  
Main Element ◽  
Financial Security ◽  
Financial Condition ◽  
Financial Interests ◽  
The Stability

Финансовая безопасность предприятия - основной элемент экономической безопасности. Именно от нее зависит стабильность работы организации, ее финансовые интересы, возможность развития и роста в условиях жесткой конкуренции. В статье определено интегральное значение финансовой безопасности конкретного предприятия, сформулированы приоритетные направления укрепления его финансового состояния. Financial security of an enterprise is the main element of economic security. It determines the stability of the organization, its financial interests, and the possibility of development and growth in a highly competitive environment. The article defines the integral value of the financial security of a particular enterprise, and sets out priority directions for strengthening its financial condition.

Crafting Strategies of Security Breaches

2022 ◽  
pp. 214-234
Author(s):  
Heru Susanto ◽  
Nurul Mardhiah ◽  
Alifya Kayla Shafa Susanto
Keyword(s):  
Business Model ◽  
Cyber Security ◽  
Smart Devices ◽  
Smart Device ◽  
Technological Advancement ◽  
Security Measures ◽  
Security Breaches ◽  
Cyber Threats ◽  
Cross Platform ◽  
Financial Technology

In recent years, the number of financial technology players and users have increased at a significant rate due to the rapid technological advancement in financial technology. While smart devices are providing more useful features to users, they have also made it possible for cyber threats to migrate from desktops to smart devices. Thus, it is important for smart device users to be aware that their device could be exposed to cyber threats and that users could protect their devices by employing data-centric cyber security measures. This study reveals how financial technology business model responded to the breach phenomenon by employing data-centric protection approaches. The result is very interesting. Data-centric security is very needed as it is capable of protecting data as a whole. It provides a gapless protection, meaning to say, the data are encrypted and classified wherever it moves. With persistent protection and cross-platform operability, data-centric security will eliminate gaps and keep data protected.

scholarly journals Role of Biometric security for The Enhancement of Data Security

2015 ◽  
Vol 14 (10) ◽  
pp. 6184-6189
Author(s):  
Himanshu Gupta ◽  
Kapil Chauhan
Keyword(s):  
Cyber Security ◽  
Data Security ◽  
User Authentication ◽  
Personal Data ◽  
Personal Identification ◽  
Fingerprint Recognition ◽  
Digital Data ◽  
Security Measures ◽  
Biometric Security ◽  
Area Of Concern

In today's society, data security is the big problem for every business organization or an individual. Most found threat is theft of personal data and information. With time digital data become more prevalent, personnel try to secure their information by using highly encrypted passwords and authentication identities, but, the misuse and theft of these security measures are rising in lot of theft cases Taking advantage of security flaws in authentication identities ends up in cards being duplicated or counterfeited and hence misused. This increasing fight with cyber security has been the sole reason of  making  biometric security systems, the  important area of concern is that how do  one can implement the biometric security for increasing of data security.  First unique feature which is found different in every human is Fingerprints; Humans have used fingerprints for personal identification. Presently, most of the organisation use  fingerprint recognition for authentication process  it is one of the oldest and most commonly used biometrics, with high accuracy & generally easy and efficient and fast.  In this paper we propose the idea to use fingerprint recognition along with the user authentication password or to access the data or information. Since the only person who can access information is the person linked to it, no thief can gain access. It also makes your data, very hard for cyber criminals to hack into.

scholarly journals DEVELOPMENT OF MODELS FOR PREDICTING THE PROBABILITY OF BANKRUPTCY IN THE CONTEXT OF BUSINESS FINANCIAL SECURITY

2020 ◽  
Vol 8 (2) ◽  
pp. 126-130
Author(s):  
Tat'yana Myagkova ◽  
Victoria Annenkova
Keyword(s):  
Economic Security ◽  
Financial Security ◽  
Financial Condition ◽  
New Models ◽  
Probability Of Bankruptcy

Forecasting is one of the most important stages in planning future policies to ensure economic security. And countering the financial insolvency of an enterprise should begin with predicting the risk of this phenomenon. The risk of bankruptcy is predicted using domestic and foreign models for predicting potential threats to the organization's financial security. However, many of these models are outdated or not focused on the conditions of our country's economy, which affects the reliability of the results obtained and the effectiveness of decisions based on them. In this regard, there is an increased need to develop new models for identifying signs of bankruptcy and the pre-crisis state of the organization, which could form a more reliable opinion about the financial condition of the object for rapid measures to bring the business out of a crisis or unfavorable state.

scholarly journals Defining the Essence of the Concept of “Financial Security of Enterprise” and Threats to It

2021 ◽  
Vol 3 (518) ◽  
pp. 87-93
Author(s):  
M. O. Haidukov ◽  
◽  
O. S. Shumilo ◽  
Keyword(s):  
Development Strategy ◽  
Business Processes ◽  
Financial Security ◽  
Labor Costs ◽  
Financial Strategy ◽  
Financial Condition ◽  
Current Period ◽  
The Status ◽  
Financial Interests

The essence of the concept of «financial security of enterprise» and threats to it is researched; their classification is provided. According to the results of a comparative analysis of the scholars’ definitions regarding the concepts of «financial security of enterprise» and «threats to the financial security of enterprise», the authors’ own definitions are presented. Financial security of enterprise is considered as an instrument that ensures the sustainability and security of enterprise in the process of implementing its development strategy from the internal and external factors, threats both in the current period of activity and in the future. A threat is a course of events of an external or internal nature, which affects the financial condition of enterprise and entails consequences of varying degrees of severity, the solution of which will require financial, time, labor costs. According to the results of the study of scientific definitions on the essence of financial security of enterprise, some features are allocated. Financial security of enterprise is understood by the authors as: a component that allows choosing and implementing a financial strategy; the ability of enterprise to independently develop and conduct a financial strategy; the result of managed processes, which ensures the acquisition to some extent of its financial freedom; the state of protection of financial interests of enterprise; the financial condition of enterprise; the ability to create and maintain financial conditions at the enterprise; the status of financial security with the ensured business processes. The authors’ own classification of threats according to a number of signs and types is suggested and considered: by the place of origin, by the type of origin system, by the degree of losses, by the possibility of forecasting, by the prospect of impact, by the stability of influence, by the consequences of influence, by the fact of influence, by the threat subjects, by the type of disasters. The research of the essence of financial security of enterprise and threats to it has displayed the complexity and diversity of these concepts. This is evidenced by an extensive range of definitions, each of which has its own characteristics. It should also be noted the absence of a unified classification of threats to financial security.

scholarly journals Risk Analysis and Data Protection Impact Assessment Conducted in the Public Sector

2020 ◽  
Vol 6 (2) ◽  
pp. 145-157
Author(s):  
Aleksandra Olender
Keyword(s):  
Public Sector ◽  
Risk Analysis ◽  
Impact Assessment ◽  
Risk Estimation ◽  
Personal Data ◽  
Security Measures ◽  
The Public ◽  
It Systems ◽  
Council Regulation ◽  
The Eu

The European Parliament and Council Regulation (EU) 2016/679 of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and the repeal of Directive 95/46 / EC, introduced a new one, a proactive model of protection of personal data processed in the organization, based on a risk-based approach. It imposed some new obligations on the administrators, related to conducting analysis of the risk of violation of the rights and freedoms of the persons, whose data they process. Considering the scope, scale and categories of personal data processed, public sector entities face a huge challenge to meet the restrictions of the EU legislator. An additional difficulty is often a very extensive organizational structure, complicated processing processes, limited financial resources and unadjusted IT systems. The article discusses the issues of risk analysis and impact assessment for the protection of personal data processed in the public sector, in order to meet the requirements of the GDPR. The key issue in this respect is the adoption of an appropriate methodology in the risk estimation process, because properly carried out, it enables the implementation of security measures adequate to potential threats.

FINANCIAL COMPONENT OF REGIONSʼ ECONOMIC SECURITY

2017 ◽  
Author(s):  
Yuliya Tymchyshyn ◽  
Keyword(s):  
Security Policy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
Financial Resources ◽  
Financial Security ◽  
Financial Problems ◽  
Financial Flows ◽  
Financial Measures ◽  
Financial Interests

The article highlights the basic concepts of regions’ financial security. Was discussed the regional level, the components of region’s financial security and their characteristics: budget, tax, investment, innovation, monetary, financial security of economic entities, financial security of the population and insurance. Internal and external aspects of financial security are described. The states of financial security by the intensity of the negative factors’ influence are distinguished. The main generalizing factors that have a negative impact on the level of financial security of the Ukrainian regions are revealed: external factors, these include world-class and national factors; internal factors, these include economic, social, environmental, scientific and technological, informational, material, legal factors. External indicators are substantiated, which indicate the degree of indirect impact on the financial security of a particular region and are determined by the level of financial security of the state by indicators that characterize the state of debt, budget, monetary and currency, investment and foreign trade security. The use of these indicators in calculating the level of financial security of the region is due to a significant impact on this level of financial security of the state, because if national needs are not provided with sufficient financial resources, the financial security of any region cannot be discussed. Internal indicators characterize the immediate state of financial security of the needs of the economic, social and environmental spheres of the region compared to the threshold values. The main risks to the financial security of the region in terms of its structural elements have been assessed. The tasks of the financial security policy of the region are analyzed, such as: diagnostics and forecasting of external and internal threats to ensuring the realization of the financial interests of the region; identification of the most acute financial problems of the region, ranking them according to the degree of danger; development of a system of financial measures aimed at solving financial problems, creating financial mechanisms to protect regional interests; prevention and neutralization of real and potential threats to the financial interests of the region; diversification of financial sources and optimization of financial flows to ensure the balance of sustainable development in accordance with established security criteria; improving the efficiency of the use of available financial resources of the region, control of their volumes.

scholarly journals Improving the levers of digitalization risks management of economic security and formation of cybersecurity of the accounting system

2021 ◽  
pp. 97
Author(s):  
Stanislav Vasylishyn
Keyword(s):  
Information Security ◽  
Cyber Security ◽  
Economic Security ◽  
Economic Research ◽  
Sample Population ◽  
Accounting System ◽  
Expert Survey ◽  
Cyber Threats ◽  
Digital World ◽  
Security Service

Introduction. The XXI century is the era of the information society, which has radically changed the conditions of living and development of the business entities. That is why a separate direction of the economic research is rapidly developing, related to the development of the measures to strengthen the economic security of the enterprise in the digitalized world.The purpose of the research is to assess the state and develop the ways to improve the management levers of digitalization risks of the economic security and the formation of the cyber security of the accounting system of the enterprises.Methods. To achieve the purpose of research, various methods and techniques were used: a systematic approach (development of an adaptive cybersecurity system as a function of the economic security service of the enterprise); analysis and synthesis (determination of digitalization risks and the nature of their impact on accounting and analytical support); monographic (identification of information security components). In order to deeply analyze the views of the professional environment on certain aspects of accounting and analytical support of economic security in the digital world conducted an all-Ukrainian expert survey of accounting staff, scientists and graduates «The place of economic security in accounting and analytical management and transformation of the accounting profession in the digital world”, which lasted during 2019–2020 and covered 858 respondents, of which 62.1% are accountants-practitioners of leading enterprises in Eastern Ukraine. In the process of expert survey, a method of questionnaires of a unique sample of respondents was developed. Since the sample population in one proportion or another necessarily included representatives of all groups, the typification of the general population allowed to exclude the influence of intergroup variance on the average error of the sample, which in this case is determined only by intra-group variation.Results. The structure and types of major infringements in the field of the cyber security of the Ukrainian enterprises have been analyzed. Based on the results of the all-Ukrainian expert questioning of the accountants, the importance of the individual groups and the structure of digitalization risks of accounting and analytical support have been determined. The technical, software, information, personnel and organizational components of the information security of the enterprises have been substantiated. An adaptive cyber security system has been developed as a function of the enterprise’s economic security service based on the separation of an expert group on the information security, which is a part of the economic security service and performs the functions of monitoring cyber threats, coordinating tactical actions and forming cyber security strategies or involving IT companies’ integrators. Based on the modeling of the measures to respond to and eliminate cyber threats to the information security at different stages of cyber-attacks, the implementation of preventive, reactionary, protective, prognostic and monitoring stages of cyber defense has been proposed.Perspectives. The potential success of the enterprise in the conditions of transformational changes in the economy in the process of digitalization will directly depend on the change of the accounting paradigm, which is a key element of business process modifications and the main source of the information needs of all stakeholder groups related to the economic security.

Sign in / Sign up

Export Citation Format

Share Document