Ensuring Economic Security of Financial System of Russia in Conditions of Development of the Shadow Banking Based on Digital Financial Technologies
Financial and economic globalization created the conditions and at the same times the need for qualitatively new methods for identifying financial transactions and their participants that could directly threaten the financial and economic stability of the state. It is particularly important to identify financial transactions and their participants that may threaten financial stability with regard to the structures of shadow banking as a sort of parallel banking system with its special institutions and infrastructure alternative to the banking sector. Ensuring the economic security of the Russian financial system in relation to new aspects of its development in the context of expanding the activities of shadow banking structures can be achieved by increasing the transparency of financial transactions and the availability of information on financial transactions of any participants in an information environment based on digital financial including with the use of blocking technology. Thanks to the development of cryptographic services for the implementation of transactions and blocking technology used to build a new monitoring and control system for subjects of the Russian financial system related to shadow banking, the possibilities for protecting consumers from unscrupulous practices implemented by shadow banking structures are dramatically expanding.