Year: 2023 | Month: March | 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

Khalel Kussainov Nataliia Goncharuk Leonid Prokopenko Larysa Pershko Bohdana Vyshnivska Oleksandr Akimov
DOI:10.46852/0424-2513.1.2023.20

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.

Highlights

  • 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.




© This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Print This Article Email This Article to Your Friend

Economic Affairs, Quarterly Journal of Economics| In Association with AESSRA

28327663 - Visitors since February 20, 2019