Impact of Digitalization on International Financial Security in Conditions of Sustainable Development

Oksana Desyatnyuk


West Ukrainian National University, Ternopil (Ukraine)
https://orcid.org/0000-0002-1384-4240

Mariya Naumenko


National Academy of the National Guard of Ukraine, Kharkiv (Ukraine)
https://orcid.org/0000-0002-1974-2341

Iryna Lytovchenko


Simon Kuznets Kharkiv National University of Economic, Kharkiv (Ukraine)
https://orcid.org/0000-0002-8117-1244

Oleksandr Beketov

kenan0505@ukr.net
West Ukrainian National University, Ternopil (Ukraine)
https://orcid.org/0009-0000-0839-919X

Abstract

The implementation of digital technologies in financial security allows you to automate and accelerate the processes of ensuring security. Electronic monitoring and analytics systems can quickly identify suspicious transactions and vulnerabilities, facilitating a prompt response to threats. That is why the topic of the current research is relevant and timely. The purpose of the study is to present the main components of the digitization process of international financial security in the context of sustainable development, with an emphasis on the formation of a comprehensive methodological approach to the analysis of the issue. The methods used in this research include the observation method to identify the main features of the digitization process of international financial security, the forecasting method to identify the main trends in the development of digital security, and the methods of analysis, synthesis, deduction, and induction to visually present the results of the research. Additionally, the graphic method is utilized to display a comprehensive methodological approach and illustrate the research results. During the course of the research, the basic components of the process of digitizing financial security were analysed, and an assessment of strengths and weaknesses was conducted. Additionally, opportunities and threats related to the process of digitizing international financial security were determined. The priority areas for the digitization of international financial security in the context of sustainable development have been identified. The main results of the study include the development of a comprehensive methodological approach to the process of digitalizing international financial security under conditions of sustainable development. The study also yields the following conclusions regarding the development of digitization: the utilization of analytical tools and artificial intelligence in financial security improves the accuracy of detecting fraud, money laundering, and other financial crimes; digital technologies facilitate access to financial services in remote and less developed regions; digital technologies enable cost optimization for ensuring financial security through automation and efficient resource utilization.


Keywords:

digital technologies, digital tools, financial security, inernational standards, sustainable development

BARANOV A., KUCHER V., USTYMENKO O., UTKINA M., HRYBACHOVA I., 2020, Mechanism of state eco-nomic security management in the direction of intellectual property rights protection: cases of selected industries, Journal of security and sustainability issues (Scopus), https://dspace.lvduvs.edu.ua/bitstream/1234567890/3309/1/%d0%a1%d0 %ba%d0%be%d0%bf%d1%83%d1%81%20%d1%81%d1%82%d0%b0%d1%82%d1%82%d1%8f%20Alexander%20 Baranov%2c%20Vitalii%20Kucher%20et%20al.pdf.
  Google Scholar

BASHTOVA M., 2017, International economic security through relations and factors of nature use, State institution Institute of Economies of Nature Use and Sustainable Development of the National Academy of Sciences of Ukraine, Ky-iv, http://dspace.wunu.edu.ua/bitstream/316497/5577/1/%D0%91%D0%90%D0%A8%D0%A2%D0%9E%D0%92% D0%90%20% D0% 9C.pdf.
  Google Scholar

BEAL T., 2022, Economic security: A need for a renewed global effort, Chatham House, https://www.chathamhouse.org/2022/03/economic-security-need-renewed-global-effort?gclid=Cj0KCQjw1vSZBhDuARIsAKZlijRmwvzxun dIWLnOThFQB-AvE3IymysGUYTOPTPUkFC8Vwjs2Xw-huwaAvV6EALw_wcB.
  Google Scholar

CHEEVER F., 2022, Environmental law, Britannica, https://www.britannica.com/topic/environmental-law/Sustainable-development#ref750231.
  Google Scholar

DROBOT E. V., MAKAROV I. N., 2021, Assessment of Factors and Stressors of the Shadow Economy: World Experi-ence, Shadow Economy, 5(1), 53-77, https://1economic.ru/lib/112236.
DOI: https://doi.org/10.18334/tek.5.1.112236   Google Scholar

GANDHI Y., 2022, Economic Security: Meaning, Importance and Types, Analytic Steps, https://www.analyticssteps.com/blogs/economic-security-meaning-importance-and-types.
  Google Scholar

GANUSHCHAK-YEFIMENKO L., NIFATOVA O., FASTOVETS N., PLYSENKO H., LUTAY L., TKACHUK V., SHCHERBAK V., PTASHCHENKO O., 2020, Use of key indicators to monitor sustainable development of rural areas, Global journal of environmental science and management GJESM, 6(2): 175-190, https://www.gjesm.net/article_37320.html
  Google Scholar

HRYBINENKO O. (HАРIEIEVA O.), BULATOVA O., ZAKHAROVA O., 2020, Evaluation of demographic compo-nent of countries’ economic security, Business, Management and Economics Engineering, 18(2): 307-330 (Scopus, Web of Science), https://journals.vilniustech.lt/index.php/BMEE/article/view/12309.
DOI: https://doi.org/10.3846/jbem.2020.12309   Google Scholar

BOICHENKO E., MARTYNOVYCH N., SHEVCHENKO I., 2021, Cognitive Modeling Concepts of Sustainable De-velopment of Society, Problemy Ekorozwoju/ Problems of Sustainable Development, 16(2): 158-165.
DOI: https://doi.org/10.35784/pe.2021.2.16   Google Scholar

KOPYTKO M., FLEYCHUK M., VERESKLIA M., PETRYSHYN N., KALYNOVSKYY A., 2021, Management of security activities at innovative-active enterprises, Business: Theory and Practice (Scopus), https://dspace.lvduvs.edu.ua /bitstream/1234567890/4068/1/%d0%b2%d0%b5%d1%80%d0%b5%d1%81%d0%ba%d0%bb%d1%8f%20%d1%81% d0%ba%d0%be%d0%bf%d1%83%d1%81.pdf.
  Google Scholar

KOVALEV A. A., 2020, International economic security in the modern era of the clash of civilizations: problem of con-ceptualization, Theoretical and Applied Economics, 2: 61-74, https://en.nbpublish.com/library_read_article.php?id= 29842.
DOI: https://doi.org/10.25136/2409-8647.2020.2.29842   Google Scholar

MENSAH J., 2019, Sustainable development: Meaning, history, principles, pillars, and implications for human action: Literature review, Cogent Social Sciences. https://www.tandfonline.com/doi/pdf/10.1080/23311886.2019.1653531?needAccess=true.
DOI: https://doi.org/10.1080/23311886.2019.1653531   Google Scholar

MOLLENKAMP D. T., 2022, Economic Security, Investopedia, https://www.investopedia.com/economic-security-5213404.
  Google Scholar

PAWŁOWSKI A., 2008, How many dimensions does sustainable development have? Sustainable development, 16(2): 81-90, https://onlinelibrary.wiley.com/doi/abs/10.1002/sd.339.
DOI: https://doi.org/10.1002/sd.339   Google Scholar

PAWŁOWSKI A., 2021, Sustainable development and renewable sources of energy, Advances in Environmental Engi-neering Research in Poland, 3-16, https://www.sciencegate.app/document/10.1201/9781003171669-1.
DOI: https://doi.org/10.1201/9781003171669-1   Google Scholar

PEARCE D., Sustainable development, https://www.tutor2u.net/economics/topics/sustainable-development.
  Google Scholar

POLASKY S., KLING C. L., LEVIN S. A., 2019, Role of economics in analyzing the environment and sustainable devel-opment, PNAS, https://www.pnas.org/doi/10.1073/pnas.1901616116.
  Google Scholar

PUSHAK Y., LAGODIIENKO V., BASIURKINA N., NEMCHENKO V., LAGODIIENKO N., 2021, Formation the system for assessing the economic security of enterprise in the agricultural sector, Business: Theory and Practice (Sco-pus), https://dspace.lvduvs.edu.ua/bitstream/1234567890/4105/1/13013-Article%20Text-49347-2-10-20210305.pdf
  Google Scholar

FINCAN, Shadow economy of the countries of the world, http://fincan.ru/articles/95_tenevaja-ekonomika-stran-mira/.
  Google Scholar

SHEVCHENKO I., ZAVADSKYKH H., PTASHCHENKO O., ZVONAR V. VISHKA I., 2023,The Application of Digitization in the Economy as a Promising Direction in the Growth of Human Capital, Econ. Aff., 68(01s): 345-352, http://ndpublisher.in/admin/issues/EAv68n1sz11.pdf .
DOI: https://doi.org/10.46852/0424-2513.1s.2023.37   Google Scholar

THE ICRC, 2015, What is Economic Security?, https://www.icrc.org/en/document/introduction-economic-security #:~:text=The%20ICRC%20defines%20economic%20security,environment%20and%20prevailing%20cultural%20stand ards.
  Google Scholar

UN, 2015, Sustainable Development Goals. The Sustainable Development Agenda, https://www.un.org/sustainabledevelopment/development-agenda/
  Google Scholar

YOUMATTER DEFINITIONS, 2020, Sustainable Development – What Is It? Definition, History, Evolution, Importance And Examples, https://youmatter.world/en/definition/definitions-sustainable-development-sustainability/.
  Google Scholar

Download


Published
2024-01-08

Cited by

Desyatnyuk, O., Naumenko, M., Lytovchenko, I., & Beketov, O. (2024). Impact of Digitalization on International Financial Security in Conditions of Sustainable Development. Problemy Ekorozwoju, 19(1), 104–114. https://doi.org/10.35784/preko.5325

Authors

Oksana Desyatnyuk 

West Ukrainian National University, Ternopil Ukraine
https://orcid.org/0000-0002-1384-4240

Authors

Mariya Naumenko 

National Academy of the National Guard of Ukraine, Kharkiv Ukraine
https://orcid.org/0000-0002-1974-2341

Authors

Iryna Lytovchenko 

Simon Kuznets Kharkiv National University of Economic, Kharkiv Ukraine
https://orcid.org/0000-0002-8117-1244

Authors

Oleksandr Beketov 
kenan0505@ukr.net
West Ukrainian National University, Ternopil Ukraine
https://orcid.org/0009-0000-0839-919X

Statistics

Abstract views: 312
PDF downloads: 481


License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.