TRENDS OF FRAUDULENT TRANSACTIONS IN THE BANKING MARKET AND OPPORTUNITIES FOR COUNTERACTION
Abstract
Kushnerov O.S. TRENDS OF FRAUDULENT TRANSACTIONS IN THE BANKING MARKET AND OPPORTUNITIES FOR COUNTERACTION
Purpose. The main of the article is determining the trends of fraudulent activity and outlining the possibilities of counteracting fraud in the banking market of Ukraine and other countries of the world.
Methodology of research. The basis of the methodology of this study is comparative, dynamic, structural analysis. Classification, induction and deduction are used in the study of types of fraudulent operations. The graphic method is widely used. These methods are used in determining the amount of losses of fraudulent operations; in determining the structure of financial losses in the context of types of fraudulent transactions; when determining trends in banking fraud.
Findings. The structure of fraudulent transactions is analyzed on the basis of information according their volumes, as well as the preliminary forecast characteristics for the development of the situation regarding fraudulent transactions in the Ukrainian and foreign banking markets. It has been determined that Ukraine is among the countries where the risk of such fraud is moderate. However, the peculiarities of the development and continuous improvement of the methods used by the attackers poses the task of developing flexible and effective methods for identifying potential fraud threats and preventing their implementation.
Also, the volume and structure of fraudulent transactions in the context of the global market are analyzed. The structure of banking fraud by types of technologies used is analyzed in detail, the dynamics of the volume of certain types of fraud operations is considered, and the main measures to counter banking fraud are determined. It is noted that the most effective measure to counter fraudulent transactions by bank customers is to maximize the awareness of users about the necessary actions in case of fraudulent attacks or in order to prevent them.
Originality. The main features of banking fraud operations and their segmentation by “target audience” of potential victims are identified.
Practical value. The results of the presented study allow to identify changes, structure and tendencies in the field of banking fraud based on the proposed structural and dynamic analysis, as well as to create a policy of counteracting fraud in accordance with the identified tendencies.
Key words: transactions; fraud; fraudulent transactions; technologies; trends; structure.
Keywords
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