Quintessence and imperatives of strengthening the financial security of the country in the conditions of the digital economy

Abstract

The paper addresses the issues of strengthening Ukraine's financial security in the context of the formation of the digital economy. An overview of the main scientific approaches to interpreting the concept of 'National Financial Security' was conducted, and the author proposed a definition. The paper primarily focuses on the quintessence of strengthening the financial security of the country as a set of fundamental principles and approaches that should be implemented to ensure the stability and reliability of the domestic financial system, the creation of favorable conditions for economic development, and the protection of the country's financial interests. The imperatives of strengthening the financial security of the country in the context of digitalization were systematized, aiming to minimize threats such as cyber-attacks, financial fraud, and external risks. To mitigate these risks, the authors propose implementing measures such as the development of effective information protection technologies in the financial sphere and the introduction of a financial monitoring system to enhance the transparency of financial transactions. It has been demonstrated that the financial security of the country is a key element of its economic security, as it ensures the reliability and stability of the financial system and safeguards the financial interests of the country and its citizens. The paper also presents a set of proposals to enhance domestic financial security by enhancing the resilience of the financial system to new risks and threats associated with the digitalization of the domestic economy.