Economic Affairs
  • Year: 2023
  • Volume: 68
  • Issue: 1

Anti-corruption management mechanisms and the construction of a security landscape in the financial sector of the EU economic system against the background of challenges to european integration: Implications for artificial intelligence technologies

  • Author:
  • Kussainov Khalel1, Goncharuk Nataliia2, Prokopenko Leonid2, Pershko Larysa3, Vyshnivska Bohdana4, Akimov Oleksandr5,*
  • Total Page Count: 13
  • Published Online: Oct 21, 2023
  • Page Number: 509 to 521

1Department of “Public Administration, Finance and Marketing” Aktobe Regional University. K. Zhubanova, Aktobe, Kazakhstan

2Department of Publik Administrafion and Lokal Self-Government, Dnipro University of Technologi, Dnipro, Ukraine

3Department of Finance and MarketingPrivate Higher Educational Institution “Institute of Ecology of Economics and Law”, Kyiv, Ukraine

4Department of Marketing and International Trade, National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine

5Department of Public Administration, Interregional Academy of Personnel Management, Kyiv, Ukraine

*Corresponding author: 1970aaa@ukr.net (ORCID ID: 0000-0002-9557-2276)

Online Published on 21 October, 2023.

Abstract

The article is devoted to modern topical theoretical and practical problems of interaction between international anti-corruption and financial and legal norms in the field of preventing the financing of terrorism, corruption and money laundering in the integrated EU financial market. It is shown that the current mechanisms of foreign exchange control and banking supervision of the EU over the financial transactions of entities need to be strengthened by anti-corruption measures. The steps taken in this direction, as well as the current regulatory documents and agreements, are analyzed. International legal norms against financial crime, corruption and terrorist financing should be successfully translated into the norms of national administrative, financial, anti-corruption law within the common space of the EU economic system in order to provide the necessary security landscape. The security challenges and threats associated with the increasing digitalization of financial markets, as well as the possibilities of using artificial intelligence tools to combat corruption, are considered.

• The article is devoted to understanding the current security landscape of the integrated EU financial market in the context of the fight against corruption, in particular through the use of artificial intelligence capabilities.

• The obtained results allowed carrying out outlined systematization of the challenges in development and implementation of anti-corruption management mechanisms and the construction of a security landscape in the financial sector of the EU.

• The practical significance of the research lies in the possibilities of its use by EU regulatory bodies in designing and implementing policy for fighting corruption and enabling favorable security landscape in the financial sector of the EU economic system.

Keywords

Financial Market, Eu, Corruption, Artificial Intelligence, Security Landscape