Modern Practice of Economic Safety Provision in the Financial Sphere

Abstract

Economic safety as a guarantee of independence and the state sovereignty is considered as one of the main characteristics of economic system defining its ability to support normal conditions of life activity of the population and to provide necessary resources for national economy development. The article is devoted to the problems of provision of economic security in credit and financial sphere of modern Russia under conditions of digitalization promoting not only favorable development of the banking branch, but also leading to cybercrime. The basic financial risks and mechanisms on their elimination are presented. Financial security plays the major role in the system of economic security of the country. It should have certain safety margin in case of unforeseen and extreme situations so that directive state bodies and other subjects of economy could immediately and in due time react to cyber threat, prevent them, eliminate them in case of occurrence and reduce them to minimum social and economic losses. For this purpose the Center of Monitoring and Reaction to Computer Attacks in Credit and Financial Sphere of the Department of Information Security have been created by the Bank of Russia. Its primary goal is to provide information security in the sphere of financial operations.