Impact of Innovation and Digital Technologies on the Financial Security of the State

Onyshchenko, Volodymyr; Yehorycheva, Svitlana; Masliі, Oleksandra; Yurkiv, Nadiia

doi:10.1007/978-3-030-85043-2_69

Cited by 8 publications

(4 citation statements)

References 5 publications

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“…дол. США [6]. Такі цифрові гіганти як «Яндекс» та «ВК» створювали якісні кадри та цифрову мережу для активних агресивних інформаційних дій та кадрового поповнення як хактивістів, так і професійних хакерів.…”

Section: ризики та загрози економічній безпеці україни у цифровій сфе...unclassified

Risks and Threats to Ukraine’s Economic Security in the Digital Sphere in Times of War

Masliі¹,

Maksymenko²

2023

РЕК

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The article reveals modern trends and dual impact of economic digitalization on the economic security of the state. It was established that, in addition to economic and scientific development, financial operations acceleration and stimulation of human potential development, digitalization is a catalyst for real threats to the state economic security in the digital sphere. The advantages and disadvantages of the development, exploitation and existence of digital infrastructure in wartime are summarized. The peculiarities of the use of strikes on digital infrastructure and the use of digital technologies in the course of modern conventional wars were analyzed. It was determined that risks and threats to the state economic security in the digital sphere are an effective modern tool for waging wars and defending geopolitical interests. It was assessed the preconditions and historical course of the main digital threats to the Ukrainian economy caused by the aggressor state actions. It was proved that digital transformation, firstly, contributes to increasing the state economic security level and the resilience of the national economy to external and internal challenges and threats, and secondly, acts as a source of additional risks and dangers in the digital sphere. The dynamics of Russian cyberattacks against Ukraine as key threats to the state economic security in the digital sphere was analyzed. It was proved the effectiveness of counteracting risks and threats to Ukraine’s economic security in the digital sphere in times of war due to the rapid digital transformation of the national economy and the digitalization reserves implementation. The main directions of minimizing risks and threats to the economic security of Ukraine in the digital sphere in the war conditions are determined. The priority of proactive ensuring of Ukraine’s economic security with the advantage of a qualitative approach over a quantitative one in the development of both digital damage and protection systems was substantiated. The need to increase the financial support of the state economic security in order to improve the systems and mechanisms of digital confrontation in the conditions of a conventional war was proven.

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Section: ризики та загрози економічній безпеці україни у цифровій сфе...unclassified

Risks and Threats to Ukraine’s Economic Security in the Digital Sphere in Times of War

Masliі¹,

Maksymenko²

2023

РЕК

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“…In work [3], the digitalization of the economy is revealed as the main challenge to the security of the financial system. The need to take into account the challenges associated with digital transformation is a crucial condition for ensuring the financial security and socio-economic stability of the state.…”

Section: Literature Review and Problem Statementmentioning

confidence: 99%

Determining the patterns of using information protection systems at financial institutions in order to improve the level of financial security

Onyshchenko,

Zhyvylo,

Cherviak

et al. 2023

EEJET

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This paper reports a study aimed at determining the features of using information protection systems at financial institutions in order to improve the level of financial security. It has been proven that under the conditions of digitization of the business environment, information provision is the basis of financial security at both the macro and micro levels. Information has become a strategic resource that needs protection due to the spread of cybercrime. The level of efficiency of information provision and the level of financial security of Ukraine was determined, and the relationship between them was confirmed. Attention is focused on the need to improve these indicators. It has been proven that an effective information protection system enables economic entities to resist dangers and threats. It was substantiated that the intensification of the processes of digitalization of economic activity had created prerequisites for the growth of risks and threats to the integral, uninterrupted, protected circulation of information resources of financial institutions, which leads to huge financial losses. This requires improvement of existing information protection systems. A topology of information protection systems has been presented. An algorithm for building effective information protection systems of financial institutions was proposed, which includes system vulnerability assessment, system assessment for compliance with security standards, penetration testing, and application assessment. Its application would allow financial market entities to promptly respond to real and potential threats, increase the level of information security, and ensure financial stability. The results of the study could also be used by state and local authorities to devise the principles of financial security management at the macro level under the conditions of the digital economy

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“…Цифрове шахрайство, виклики на ринку криптовалют, кібератаки, кібертероризм, недостатність власних фінансових ресурсів підприємств та інноваційних й інтелектуальних інвестицій для прискореного економічного розвитку, скорочення робочих місць через трансформацію ринку праціце далеко не повний перелік викликів економічній безпеці бізнесу в умовах діджиталізації [12]. Крім цього сучасна конвенційна війна рф проти України засвідчила, що одним із ключових її елементів є інформаційна війна.…”

Section: рис 1 загрози економічній безпеці україни в умовах повномасш...unclassified

Transformation of Threats for the Economic Security and Security of the Information Environment of Ukraine in the Conditions of a Full-Scale War

Masliy,

Buriak

2023

State and Regions. Series: Economics and Business

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The article defines an objective list of risks and threats for the economic security and security of the information space of the state in the conditions of a full-scale invasion of the Russian Federation. The main components of threats for the economic security of Ukraine and security-oriented information environment are summarized, including: macroeconomic, production, financial, foreign economic, investment and innovation, social and food security. The systematization and analysis of current challenges and threats made it possible to identify the most significant of them – financial security, which dually reflects the growth of the state budget deficit and the increase in the state debt and expenses for its maintenance, which are the direct economic consequences of a prolonged high-intensity war, as well as factors that cause a fundamental negative influence on the economic security of Ukraine in medium and long-term dimensions. It has been proven that considering a wide range of threats for the economic security is an important step in the formation of effective strategies for the stability and state’ protection. The key directions of action to reduce threats for the food safety have been identified in the article. The manufacturing sector of Ukraine was significantly affected by the high-intensity hostilities with the aggressor country, which caused the destruction or suspension of key, largely export-oriented enterprises, mainly in the metallurgical, chemical and machine-building sectors. The impact of immediate destruction was worsened by the disruption of the logistics of both the domestic market and export routes, a significant increase in the cost of a number of important processes, the loss of part of the labor potential due to forced migrations, as well as the involvement of part of the workers in the Defense Forces, in addition, starting from the fall of 2022, – a complication with energy supply. The effectiveness of adapting the state’s investment strategy to the difficult conditions of war has been proven in the article. The priority of considering the process of risk transformation in wartime is justified, which helps to develop strategies to preserve the economic security of the country. The above makes it necessary to model and forecast the dynamics of Ukraine’s economy in the medium term in order to develop government solutions to ensure the economic security of the state, aimed at the recovery and modernization of Ukraine’s economy in the conditions of war and post-war recovery

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Impact of Innovation and Digital Technologies on the Financial Security of the State

Cited by 8 publications

References 5 publications

Risks and Threats to Ukraine’s Economic Security in the Digital Sphere in Times of War

Risks and Threats to Ukraine’s Economic Security in the Digital Sphere in Times of War

Determining the patterns of using information protection systems at financial institutions in order to improve the level of financial security

Transformation of Threats for the Economic Security and Security of the Information Environment of Ukraine in the Conditions of a Full-Scale War

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