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Financial Analytics: Science and Experience
 

Economic security of the credit institution: factors, threats, enhancement measures

Vol. 9, Iss. 31, AUGUST 2016

PDF  Article PDF Version

Received: 27 July 2016

Received in revised form: 3 August 2016

Accepted: 11 August 2016

Available online: 30 August 2016

Subject Heading: MONITORING AND PREDICTION OF BANKING RISK

JEL Classification: G20, G21, O16

Pages: 42-56

Sazonov S.P. Volgograd State Technical University, Volgograd, Russian Federation
sazonovsp@mail.ru

Ezangina I.A. Volgograd State Technical University, Volgograd, Russian Federation
ezanginaia@rambler.ru

Evseev R.S. Volgograd State Technical University, Volgograd, Russian Federation
roman.evseev@mail.ru

Subject The article deals with the issues of ensuring the economic security of credit organizations.
Objectives The paper aims to bring up to date the concept of economic security, approaches to its definition, risks, threats, management practices in relation to the modern commercial bank.
Methods To consider the problem, we used the systems and functional approach within which we applied scientific methods of abstraction, analysis, synthesis, induction, and deduction.
Results We prove that the security level of a modern Bank along with traditional types of risk, as permanent control objects, gets affected by new types of threats, especially the remote banking risk. We identified and clarified the specificity of the concept of banking economic security.
Conclusions and Relevance The main method of evaluating the security of a credit organization is the indicator approach used in the management of traditional risks. The various intruders with criminal intent of unauthorized access, implemented via remote banking services, make an integrated approach to managing the Bank's customer base absolutely essential, to ensure the confidentiality, integrity, authenticity of bank information, and the economic security. The results can be taken into account in the financial policy of the credit organization, especially in remote banking risk management solutions.

Keywords: economic security, indicator approach, banking risk, remote banking, unauthorized operation

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