Examining Ukraine's Approaches and Obstacles in Addressing Cyber-Financial Fraud Amid Armed Conflict

Abstract

This article provides an in-depth examination of contemporary methods of financial fraud in the digital realm, highlighting strategies for addressing this pervasive issue through the lens of Ukraine's experiences. The authors employ an interdisciplinary methodology that combines methods from legal science, economics, and information technology. Financial fraud is continuously evolving, manifesting in new forms and expanding in scope. Cybercriminals utilize various tactics, including phishing schemes, hacking into banking systems, stealing payment information, and deploying malware to unlawfully access the financial assets of individuals and organizations. Additionally, fraudulent activities are increasingly prevalent on cryptocurrency exchanges, where criminals exploit digital assets. The study underscores that an effective response to financial cybercrime necessitates a holistic approach, which includes monitoring financial transactions to detect anomalous activities, analyzing cyber threats to understand the landscape of financial cybercrime, and enhancing cybersecurity measures to protect against potential threats. Furthermore, user education is emphasized as a critical component, focusing on raising awareness about risks and protective strategies, as many fraudulent activities stem from negligence and a lack of awareness. Throughout the investigation, the authors identify key forms of financial cyber fraud and formulate effective strategies for investigating, preventing, and analyzing these socially harmful acts.