Cybersecurity Development Research Articles

The Impact of Digital Transformation on the Anti-Corruption and Cyber-Fraud System

The article deals with the assessment of the digital transformation impact on the anti-corruption and anti-cyber fraud system. The article explores the interconnection between three key indices: the Corruption Perceptions Index (CPI), the National Cybersecurity Index (NCSI), and the Information and Communication Technology (ICT) Development Index in 138 countries as of 2023. In the first stage, a preliminary analysis of the indices was conducted, which showed significant variation between countries. The average CPI value was 47.5, indicating an average level of corruption globally, but some countries have very low and very high scores. Similarly, the NCSI and ICT indices also vary, indicating uneven development of cybersecurity and information and communication technologies. Correlation analysis revealed a medium to strong positive correlation between the indices. The strongest correlation (0.61) was observed between CPI and ICT, confirming that developing digital technologies can help reduce corruption. A significant correlation was also found between NCSI and ICT (0.61), which emphasizes the importance of information technology development for improving cybersecurity. The clustering method allowed us to divide countries into three groups: countries with low scores on all three indices, countries with moderate scores, and leading countries with high levels of transparency, cybersecurity, and digital development. The study confirmed the importance of investing in digital infrastructure to increase transparency and security and pointed to the need for reforms in countries that score low on all indices.

Fuzzy models for cyber incident detection in military information and communication systems databases

Protecting databases of military information and communication systems is an extremely important task in the modern cybersecurity sphere. Growing threats from cyberattacks, the need to effectively detect, counteract and prevent them require the use of new, more effective models and methods. The main disadvantages of existing models and methods include insufficient sensitivity to new threats, a large number of detection errors, low response to new threats, the possibility of bypassing protective measures, and low scalability, which are key challenges for further improvement and development of cybersecurity. The article analyzes the existing fuzzy models for detecting cyber incidents, identifies their shortcomings and emphasizes the need for their further improvement and development. An improved fuzzy model for detecting cyber incidents in databases of military information and communication systems and an improved fuzzy model for detecting cyber incidents in databases of military information and communication systems with weighted rules based on the expansion of cyber incident signs by obtaining them from different levels of cyber security of the data are proposed. The main levels of database cybersecurity include: the operating system level, the network level, and the database management system level. To eliminate the shortcomings associated with the false triggering of cyber incident detection rules and the complexity of their configuration in a dynamically changing cyberattack landscape, as well as the dimensionality of the knowledge base of the information and security event management system, a fuzzy model for detecting cyber incidents in databases of military information and communication systems with weights of rule antecedents is proposed. The expediency of applying the developed model is shown.

Study on the Impact of Information Technology on Chinese Language Teaching

With the rapid development of information technology, its application in the field of education is becoming more and more widespread, especially in Chinese language teaching. The purpose of this paper is to explore the impact of information technology on Chinese language teaching and learning, and to analyse the current status of its application in terms of teaching mode, teaching resources, and teachers' roles, as well as the impact of these applications on teaching effectiveness and learners' development. The paper finds that the application of information technology can enhance teaching effectiveness, meet learners' individual needs, and promote educational equity and universality. However, it also faces challenges such as uneven development of technology, cyber security, and allocation of educational resources. Therefore, this paper proposes corresponding coping strategies, including strengthening teachers' IT training, optimising education management policies, and reforming the education evaluation system. The concluding section summarises the positive changes brought by information technology to Chinese language teaching and points out the important directions for future research and development.

Development and Employment of Cyber Security of e201 File Web Application for Data Center College of the Philippines of Laoag City, Inc.

Web-based systems in today's interconnected world play a vital role and need of enhanced cybersecurity measures to protect sensitive information since cybercrimes are increasing rapidly. The focus of the study is on the development of an e201 file web application for the Data Center College of the Philippines which will be accessed through a web browser. The objective study is to evaluate the cybersecurity of the developed application, particularly in handling essential personnel records using confidential data OWASP ZAP security testing tool and its software quality based on ISO 25010 specifically in software functionality, usability, and security to determine if it is ready for live deployment. The study utilizes the Research and Development model as its research design to achieve its purpose. The conceptual framework of the study utilized the used of Input-Process-Output model and the Agile Iterative model in the development. The result of the security testing and suggestions of the OWASP ZAP, cyber security was employed in the web application including Content Security Policy Header, HTTOnly Cookie flags, SameSite attribute, X-Content-Type-Options Header, and Anti-CSRF Token. With an overall mean of 4.41 in the result of Users Acceptance Testing, it implies that the system is a great help for the institution. The positive feedback received from evaluators confirmed that the development of the e201 files web application were successful. This study implies that utilizing the OWASP Zap is a great help in strengthening cybersecurity and ISO 25010 in the software quality assurance of web applications of educational institutions.

The development of new cyber security and networking solutions using Artificial Intelligence and machine learning

The convergence of Artificial Intelligence (AI) and Machine Learning (ML) has ushered in a revolutionary period in networking as well as cybersecurity. This paper explores the important impact of ML and AI on certain fields. Data shows that their use has increased dramatically, particularly in threat detection and predictive modelling. Security measures have been significantly strengthened by automated incident response systems and behavioural analysis powered by AI. The integration of threat intelligence and artificial intelligence has transformed the battle against cyberattacks, whereas real-time data analysis facilitates proactive maintenance. As long as privacy, and surveillance, alongside prejudice concerns, exist, the moral implementation of AI will remain a major worry. This analysis emphasizes the critical importance of ethical AI development. Future scope will include increased integration and more accurate threat detection, but there will also be issues with data quality, and privacy, including the requirement for strong ethical standards. It is of the utmost importance to strike a balance between these difficulties and the amazing promise of AI and ML in order to shape networking and cybersecurity in the future.

FEATURES OF MODERN CONCEPTUAL AND TERMINOLOGICAL APPARATUS IN THE FIELD OF TRAINING OF CYBER SECURITY SPECIALISTS

The article examines the relevance of ensuring the sustainable development of high-quality cyber security of the state, as the main component of a modern digital society. Guidelines for the training of personnel of cyber security agencies of Ukraine were studied. The main normative legal acts regulating the system of educational training of experts in the domain of cyber security have been analyzed. The education system of personnel education in the cyber security niche is generally characterized and compared with the main elements of the general education system of Ukraine. The theoretical aspects of the formation of the system of training professionals specializing in cyber security are considered, the peculiarities and prospects of its functioning in today’s conditions are determined. A generalized concept of “system of personnel training in the field of cyber security” is proposed as a set of elements of educational activity, the purpose of which is to implement and ensure the enduring development of the digital society by training the necessary amount of personnel in the cyber security niche of the country. Fixed on the scientific achievements of domestic and foreign scientists in the field of education, the newest educational elements are outlined and concepts in the process of modern education. The definition of “cyber security” in the cyber security strategies of the world’s leading countries was analyzed and compared with the definition given in the national strategy for cybersecurity of Ukraine. The author’s vision of the term “cyber security” is proposed on the basis of researched scientific literature and official documents, taking into account communicative, sociological, and political aspects. A number of scientific developments in the field of cyber and information security were studied in order to generalize the essence of the definition of “cyber security specialist”. A conclusion was made regarding the importance of the proper functioning of the system of training qualified personnel in the field of cyber security. It is proposed to conduct a more detailed study of the process of personnel training itself and the conceptual foundations of the organization of educational activities on the example of other countries of the world.

Fortifying the Digital Stronghold: Strategies for Enhancing Cybersecurity Resilience and Protecting Essential Networks

In an era where everything is connected, governments and businesses must safeguard themselves against new and sophisticated threats. Focusing on the given topic, the purpose of this paper is to discuss higher levels of cybersecurity development. Other measures include using AI solutions to identify threats, using the zero-trust security model concept, and creating effective incident response plans. All of these measures have the objective of containing threats from high-risk attacks like ransomware, state-backed hackers, and supply chain compromise. In this way, acquiring fresh approaches for increasing organizational readiness for adversities and following stringent rules will help to avoid extra risks of interruptions and data intrusion. Another element considered critical to bolstering protection against advanced types of cyber threats is the incorporation of novel technologies, such as artificial intelligence and quantum-safe encryption. Real-life examples like WannaCry and SolarWinds are good examples of why proactive cybersecurity approaches are important. In conclusion, this paper supports an improvement approach that utilizes technological approaches, legal measures, and cooperation between sectors to enhance the cybersecurity defense of infrastructure.

THE IMPACT OF THE INTRODUCTION OF INDUSTRY 4.0 TECHNOLOGIES ON THE IMPLEMENTATION OF INTERNATIONAL COMPETITIVE STRATEGIES OF NATIONAL ECONOMIES

Modern technological transformations associated with Industry 4.0 have a significant influence on the competitiveness of national economies on a global scale. The article analyzes the impact of the introduction of Industry 4.0 technologies on the implementation of international competitive strategies, focusing on key economies such as China, the United States of America, Germany, France, Japan, South Korea, India, Australia, Brazil, South Africa, Pakistan, Venezuela, and Ukraine. The main competitive strategies that take into account the new technological context are considered. These include digital transformation strategies, the use of artificial intelligence, the Internet of Things and other aspects of Industry 4.0. In particular, the article examines which technological innovations are reflected in the strategies of leading countries and how they contribute to their international competitive success. Great attention is paid to the aspects that influence the formation of competitive strategies of national economies, such as changes in global supply chains, development of digital platforms, cybersecurity and response to the challenges of technological shifts. The main focus is on the fact that enterprises tending to increase their international competitiveness should develop strategies taking into account the new technological context. The core strategies are digital transformation, globalization, innovation, and partnership. These strategies include adjusting to new technologies, increasing international presence, seeking innovation, and cooperating with other parties for common success. The paper highlights not only the positive aspects of implementing Industry 4.0 technologies, but also the risks associated with the unequal distribution of technological capabilities between countries. It emphises the interaction of countries in the context of international economic relations and the development of cooperation strategies to ensure mutual benefits. The article can serve as an important source for specialists in the field of economics, public administration and business, as well as for researchers interested in the relationship between technological development and the competitiveness of national economies in the modern world.

Spies and scholars in the cyber age: researching intelligence in Australian policy and regional security

ABSTRACT The limited treatment of intelligence by IR and strategic studies academics in Australia distorts the scholarly research and public understanding of policymaking in Canberra. This article provides an overview of intelligence-focused research in Australia, including the traditional challenges which constrained the field, its limited engagement with more conventional scholarship, and the potential for more applied historical study of intelligence-related issues in the future. It demonstrates how key developments in Australian alliance diplomacy and cyber security are heavily influenced by intelligence and identifies trends in the US–China relationship and regional security which are elevating the strategic importance of Australia’s intelligence agencies. More interest from the academic community in the role and contribution of intelligence to foreign and defence policy will be needed in the coming years if scholarship is to remain in touch with the reality of Australian statecraft.

Company Cybersecurity System: Assessment, Risks and Expectations

Abstract The consequences of Industry 4.0 have adverse side effects on cybercrime growth, which requires creating an effective cybersecurity system for companies. Therefore, this study aims to develop a composite indicator of company cybersecurity to assess its development needs. For this purpose, the authors modified Porter’s method by constructing a superposition matrix based on the growth rates of cyber threats and risks, calculating their quantitative characteristics and a composite indicator. The computations are based on indicators for 2016-2022 characterizing cybersecurity vulnerabilities and the consequences of cyber threats: the share of companies experiencing one, six or more successful cyberattacks, considering the likely and very likely success of cyberattacks on them in the next 12 months, security threat and concern indices, the share of companies with a growing security budget affected by ransomware and experiencing a shortage of skilled IT security personnel, the cost of stolen or compromised credentials. As a result, cybersecurity needs increased significantly for 2020-2022, mainly due to digital transformation and the cyber threats growth after the COVID-19 pandemic. A comparative analysis of the proposed indicator with those characterizing the development of Industry 4.0 showed that the need for a reliable cybersecurity system is much more important than the active development of modern technologies. Spending on IT is also increasing, but not enough to meet the needs of cybersecurity development, except for the 2022 results. The proposed indicator is defined for companies worldwide, but its versatility allows the methodology to be applied to enterprises of various industries and sizes.

Research on botnet detection technology in network security

In the current world of consistent cybersecurity threats, the priority of protecting precious data from malicious activities has never come this high. A network of infected computers that are under the control of bad actors is known as a botnet. These networks may be used for a variety of things, including spam distribution, distributed denial of service (DDoS) assaults, identity theft, and malware distribution. A botnet's constituent computers are frequently referred to as "bots" or "zombies.". And there have been appalling statistics of a 100% increase in DDoS attacks from 2021 to 2022, and attackers have been consistently evolving, implementing smaller, yet more persistent attacks. Fortunately, the measures for protecting computers from botnet attacks have also been evolving. The very first step to defending against botnet attacks is to spot suspicious requests, and in this paper, the machine learning method is utilized to help pinpoint the potential attacks. First, a comprehensive dataset is found and used to train the model. This is a dataset consisting of source IPs, protocols, bidirectional flows, packets and a total of 33 features of internet flows with a mix of normal and malicious internet flow. As for the models performed, random forest and logistic regression were chosen and run with 80 percent of the data from the dataset as a training set and 20 percent as a testing set. Overall, the two models perform greatly with the given dataset. It is a very basic study on the prevention of botnet detection, yet certainly, it provides insights and contributions into further developments in cybersecurity.

Characteristics of Illicit Access to Data and Crimes against Information Systems in Hungary between 2013 and 2021

Aim: The aim of the study is to present the results of the research carried out by the National Institute of Criminology on the implementation of the Criminal Code. Chapter XLIII of the Criminal Procedure Code was conducted by the National Institute of Criminology.Methodology: The study was conducted using the methodology of data collection, data analysis, criminal file analysis.Findings: The domestic regulatory environment adequately covers a wide range of cyber-attacks. Hungarian characteristics can be seen in the broader perspective of current international and European developments in cyber security and cybercrime. The data show a steady but not uniform increase in the number of reports of such crimes, as more and more people use various information systems in their daily lives, while neglecting, in whole or in part, measures to ensure their safe use. The conclusion of the national survey is that there are several types of offences which are basically well defined. It may be a challenge for law enforcement to keep track of new types of offences and to classify individual offences.Value: Conclusions and recommendations on the specifics of the offences covered by Chapter XLIII of the BPC; the (new) Criminal Code since its entry into force, there has been no research of this scope and content on the topic, including criminal document analysis, in Hungary.

Beyond Firewalls: Navigating the Jungle of Emerging Cybersecurity Trends

Cybersecurity is an increasingly important concern in today’s society, as technology continues to advance and we become more reliant on digital systems. With the rise of cloud computing, mobile devices, and artificial intelligence (AI), new and complex security challenges have emerged. This article provides an overview of emerging trends in cybersecurity, including cloud security, mobile security, AI-powered cybersecurity, cryptography, and encryption. Additionally, the article discusses the current state of cybersecurity threats and challenges, as well as the challenges and opportunities associated with implementing emerging trends. Real-world case studies and examples are provided to illustrate successful implementations of emerging trends in cybersecurity. The article also explores the challenges and limitations of implementing these trends and discusses potential areas of research that may shape the future of cybersecurity. Overall, this article emphasizes the importance of staying upto-date with the latest developments in cybersecurity to protect sensitive data and prevent cyber-attacks.

Deep-learning-based Intrusion Detection for Software-defined Networking Space Systems

This paper briefly reviews the application of the Software-defined Networking (SDN) architecture to satellite networks. It highlights the prominent cyber threats that SDN-based satellite networks are vulnerable to and proposes relevant defence mechanisms. SDN transforms traditional networking architectures by separating the control plane from the forwarding (data) plane. This separation enhances scalability and centralises management. In comparison, in traditional networks, the control plane and the data plane are usually combined, resulting in complex network management and reduced scalability. Satellite networks can take advantage of these benefits offered by SDN and this supports them as key enablers of critical services, including weather prediction, global broadband Internet coverage, and Internet of Things (IoT) services. Ease of configuration and flexibility are essential for satellites providing critical services to instantly adapt to network changes. These desirable attributes can be realised by applying SDN to satellite networks. Although SDN offers significant benefits to satellite networks, it is vulnerable to cyber-attacks and particularly due to its centralised architecture. A common attack on SDN is the Distributed Denial of Service (DDoS) attack which could render the entire SDN unavailable. To mitigate such threats, an efficient Intrusion Detection System (IDS) is required to monitor the network and detect any suspicious traffic. However, traditional IDSs produce too many false positives and often fail to detect advanced attacks. For their ability to learn feature hierarchies in network traffic data automatically, whether, for network traffic classification or anomaly detection, deep learning (DL) plays an increasingly important role in IDSs. In this paper, we present a brief review of recent developments in cyber security for SDN-based space systems, and we identify vulnerabilities and threats to an SDN-based satellite network. We further discuss the potential of a DL-based IDS for the detection of cyber threats. Finally, we identify further research gaps in the recent literature and propose future research directions.

Participants Prefer Technical Hands-on Cyber Exercises Instead of Organisational and Societal Ones

The current shortage of cybersecurity professionals is about 2 million people worldwide, and in Europe the industry is seeking for about 350 000 skilled professionals. There is also an enormous need for dedicated cybersecurity training courses for existing professionals who wish to acquire completely new skills or maintain their current ones. Due to the lack of new skilled workforce, the current cybersecurity personnel are overworked in their work. In order not to waste the valuable time of cybersecurity professionals with unnecessary training, cyber exercises should be well prepared. This article is based on research conducted in a European collaborative project and more specifically, a cyber exercise organised in early 2022. The purpose of our research was to conduct a preliminary assessment of the participants to learn about their skills and expectations before the cyber exercise. This assessment was used for fine-tuning the exercise. To achieve this, we identified common trends in the participants’ interests during the cyber exercise. The preliminary assessment was carried out as a web survey. The responses were cross tabulated to find meaningful indicators related to skills and interests of the participant group. We identified the most and least preferred knowledge areas for both the industry and public sector participants. Our findings show that the most interesting knowledge areas of all respondents were primarily technical in nature (Data Security, Connection Security, System Security), but Organisational Security was also reported. The least interesting knowledge areas were mostly non-technical in nature (Human Security, Organisational Security, Societal Security) but also Component Security was reported. We also enquired about the preferred team size. The majority of the respondents preferred a team size of three to four persons. The preferred single session duration was 46–60 minutes. The results help cybersecurity professionals to match their knowledge needs with the existing cybersecurity proposition and to determine the right and most beneficial training for them. The results also assist the providers of cyber training and other exercises to describe the targeted development of specific cybersecurity and other knowhow in a coherent, standard-like, way.

Autonomous network services using machine learning-based cybersecurity

The crucial topic of protecting Controller Area Network (CAN) bus systems in autonomous vehicles against cyberattacks is covered in this research. The risk and consequences of cyberattacks on CAN systems rise considerably as vehicles become increasingly automated and linked, creating safety and security hazards. In order to identify anomalies and categorize traffic into attack or conventional categories, the study looks at the weaknesses of CAN buses and recommends using machine learning techniques like Decision Trees, Clustering, and Deep Learning. To improve the detection of anomalies and cyber-attacks in CAN systems, the suggested methods combine data balance, feature selection, and ensemble learning with a voting-based strategy. Metrics like accuracy, precision, recall, F1-score, and confusion matrix can be used to assess the presented approaches. According to the study's findings, these suggested solutions provide a more reliable and efficient way to identify cyber-attacks and anomalies in CAN systems, boosting the development of cyber security for autonomous vehicles. While outlining the necessity of information security and the advantages of autonomous vehicles, it also suggests cutting-edge ways to strengthen their security. Overall, this article highlights the urgent need for improved security measures in autonomous cars since cyberattacks pose a serious threat to the functioning of these vehicles in a safe and secure manner. The study proposes a potential approach to enhancing the security of CAN bus systems in autonomous vehicles by suggesting cutting-edge approaches for identifying anomalies and cyber-attacks.

Cyber security training in Finnish basic and general upper secondary education

Cyber security in Finland is part of other areas of comprehensive security, as digital solutions multiply in society and technologies advance. Cyber security is one of the primary national security and national defense concerns. Cyber security has quickly evolved from a technical discipline to a strategic concept. Cyber security capacity building can be measured based on the existence and number of research and developments, education and training programs, and certified professionals and public sector agencies.
 Cybersecurity awareness and the related civic skills play an increasingly important role as our societies become more digitalized. Improving citizens' cyber skills through education is an important goal that would strengthen Finland as a country of higher education and expertise and lay the foundation for the society of the future.
 Pursuant to the Finland’s Cyber Security Strategy (2019) “National cyber security competence will be ensured by identifying requirements and strengthening education and research.” Finland’s Cyber Security Development Programme (2021) necessitates that in basic education ensures young people have sufficient skills to operate in a digital operating environment and that they understand cyber security threats and know how to protect themselves from them. So, cybersecurity is an important subject for everyone, not just industry or public organizations. It’s also vital for our children to understand how to stay safe online, and the need to be aware of any dangers that might come their way. Cybersecurity awareness training is important because it teaches pupils how they can protect themselves from cyber-attacks (MTC, 2021).
 The study of cybersecurity education in Finland was made in autumn 2021 and spring 2022 for the National Cyber Security Director. According to the study, measures are needed so that cyber security becomes an important aspect when planning education and teaching. There are different models to choose from to make training more effective. This paper presents the results of the research focusing basic and general upper secondary education.

Advanced cyber security using Spectral entity feature selection based on Cyber Crypto Proof Security Protocol (C2PSP)

The growth of internet become more development in communication medium to provide various services. Information sharing ad security is mostly suffered by crime attackers because of different models of cyber-attacks are carried out by attackers. Attackers creates jamming principles, communication delays, packet dropping, and information hacking, duplicate injection to do so many activities to destroy the security. Based on the communication data analysis and features are non-identified and difficult to find the malicious activities. So the development of cyber security needs advancement to find the attackers based on the communication breaking activities. To resolve this problem, we propose a Spectral entity feature selection based Cyber Crypto Proof Security Protocol (C2PSP) to improve the cyber security. The Defect Scaling Rate (DSR) is used to estimate the communication defect rate. By marginalize the scaling rate using Spectral entity feature selection approach (SEFSA) is applied to select the features and trained to identify with Artificial neural network classifier (ANN). Based on the attack principles and activities in communication medium, the Cyber Crypto Proof Security Protocol (C2PSP) is applied to ensure the security verification and validation to process the data safer and securely. The proposed system produce high performance compared to other system as well to identify the malicious activities to improve the security against the cyber-attacks

SYNERGIC APPROACH BASED ASSESSMENT OF BUSINESS-PROCESSES CONTINUITY

Informational threats can manifest themselves in different forms, which is due to the features of the global network. The article is devoted to one of the ways of solving the contradiction, which is that, despite the large number of publications, the task of ensuring the continuity of business processes in the conditions of the growing number and variety of cyber attacks on critical infrastructure objects remains unresolved. This is due to the constant modification and increase in the number of cyber attacks, as well as methods and technologies for implementing business processes. Therefore, the development and improvement of methods for assessing the continuity of business processes is an urgent scientific task. The article examines the problem of ensuring the continuity of business processes in the conditions of the growth of cyber threats. The means and methods of committing cybercrimes against critical infrastructure facilities were analyzed. The main strategies and business continuity assessment indicators are defined. The influence of selected strategies and solutions for ensuring business continuity on the value of business process continuity indicators is analyzed. The main trends in the development of cyber security in the context of improving the means and methods of carrying out terrorist information attacks on critical infrastructures are analyzed. Preventive measures to reduce the risk of cyberattacks at the national and international levels have been identified. The main tasks of ensuring the continuity of business processes based on the PDCA risk management model, indicators for assessing business continuity are considered. The influence of the selected strategies and solutions on ensuring the continuity of business processes is analyzed.

ASSESSING THE FUNCTIONING INDICATORS OF THE UKRAINIAN BANKING SYSTEM AND PROSPECTS FOR ITS DEVELOPMENT

The article is devoted to analysing and assessing the dynamics of the banking system functioning in Ukraine in 2020-2022, identifying existing problems and outlining prospects for its development. Setting this goal necessitated solving the following tasks: conducting a fundamental analysis regarding the general state of the banking system; assessing the capitalization of the banking sector and the level of financial resources; and substantiating the prospects for the development of the banking system in Ukraine. The research methodology is based on a set of methods of scientific cognition: structural and statistical analysis – to assess the overall development of the banking system; comparison – to compare the indicators of the Ukrainian bank system development with the relevant indicators of the EU; scientific abstraction and systematic approach – in the process of substantiating the prospects for the development of the bank system in Ukraine. The study found that the assets of the banking sector are insufficient and its resources are limited, according to the indicators of the functioning of the Ukrainian banking system. The study identifies the main problems of the Ukrainian banking system, including high credit risk, poor quality loan portfolios and their impairment, insufficient competition among banking institutions, insufficient efficiency in deposit portfolio formation, significant number of non-performing loans, etc. Based on the analysis and taking into account the identified problems, perspective directions for the functioning of the Ukrainian banking system were identified, such as relaxation of regulatory requirements of the National Bank of Ukraine; improvement of the quality of management; promotion of further growth of public confidence in domestic banks; improvement of depositors’ protection mechanisms; stimulation of affordable lending; increase of banks’ capitalization; introduction and development of the latest technologies for making bank payments; development of cyber security, etc.