Preventing cyber fraud in the financial sector

Abstract

The article examines the problems and peculiarities of preventing cyber fraud in the financial sector. It is noted that given the current stage of digitalization of all spheres of financial life in the world, as well as the crisis in the economy, it is obvious that the problem of financial fraud is becoming increasingly relevant for both individuals and legal entities. Every year, as digital technologies develop, new types and methods of fraud with financial resources emerge, and financial fraud has all the prerequisites and opportunities for rapid adaptation in the current conditions of business activities of business entities. It is no exception that financial fraud is a fairly common phenomenon at enterprises.

This issue has become particularly relevant during the full-scale war in Ukraine, as cyber fraud has become particularly widespread. Taking advantage of the war and the difficult situation of Ukrainians, criminals manipulate the emotional state of people, thus illegally obtaining funds from them.

The most common of the new scams is fake social assistance from government or international organizations. From mid-2022 to the present, it has been the most active. For example, an average of 10,000–15,000 people in Ukraine follow links to fraudulent phishing sites every day, and fall victim to fraudsters. Using malicious phishing resources, criminals try to deceive citizens and gain access to their financial data. Such sites are mostly stylized as government portals, Diia, E-Dopomoga, websites of Ukrainian banks, international organizations and well-known payment services.

Attention is drawn to international experience in this area. In order to counteract unlawful encroachments on electronic information resources, it is necessary to establish a mechanism for prompt restriction (blocking) of a certain information resource (information service) and to introduce special conditions for search and seizure of electronic evidence, first of all, to establish a procedurally significant possibility of copying information, and also to implement into national legislation the provisions on immediate recording and further storage of data by operators, telecommunications providers, owners of a resource (website) with.