The article examines the peculiarities of institutional deformations of the financial security of Ukraine. It was established that the functioning of the national economy of Ukraine in the conditions of the Russian-Ukrainian war creates additional risks of the negative impact of macroeconomic, financial and social factors on the economic security of the country. It was determined that the main institutional threats to the financial security of Ukraine in modern conditions are the shadow economy, corruption, raiding and unproductive capital outflow. First of all, the shadow economy is considered as an economic activity that is not taken into account, not controlled and not taxed by the state, aimed at obtaining income by violating the legislation of Ukraine. In Ukraine, the shadow economy accounts for almost a third of the produced GDP, and in 2010–2022 its size varies between 28–36 %. The calculation of the integral indicator of shadowing of the economy is calculated with the help of various methods: energy (level of electricity consumption), monetary (demand and supply of cash), estimation of population expenditure / retail turnover and unprofitability of enterprises. It was established that among the factors restraining the processes of detinization of the national economy are a low level of property rights protection, an insufficient level of intellectual property protection, a low level of stock market liquidity, the protection of investors’ rights and the inability of the regulator to counter abuses of money, etc. Secondly, it was established that the anti-corruption rating for 2022 has worsened, the country received 33 points out of 100 possible in the Corruption Promotion Index. It was determined that the dynamics of this indicator is improving, but there has been a certain “stagnation” in the fight against corruption in recent years. Thirdly, it was established that raiding complicates doing business and worsens investment attractiveness, and in conditions of martial law, increases the risk of illegal seizure of other people’s property. Raiding is not only a threatening institutional deformation, but also the most acute business problem. The problems of raiding are solved by tracking registration actions that are carried out with immovable property. It has been established that unproductive capital outflow is an illegal and inefficient operation of capital withdrawal abroad. Since the beginning of 2022, the Russian-Ukrainian war has significantly affected investor confidence and caused capital outflows, which has jeopardized the country’s economic and financial stability. Key words: shadow economy, raiding, corruption, unproductive capital outflow, financial security.
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