Digital economy and cybersecurity: analysis of threats and defense strategies in the context of institutionalization

Introduction. This paper explores the relationship between the digital economy and cybersecurity, discussing threats to these domains and necessary defense strategies in the context of increasing institutionalization of activities on the Internet. It also emphasizes the importance of this issue in an interconnected world where transactions and communications predominantly occur on digital platforms, becoming increasingly international. The purpose of the paper is to provide an in-depth analysis of various threats to the digital economy, such as cyberattacks, data theft, and online fraud, as well as to study protection strategies employed by institutional and private entities. Results. The research findings indicate a significant diversity and growing complexity of attacks on digital infrastructure, especially with the emergence of new methods such as phishing, ransomware, and distributed denial-of-service (DDoS) attacks. The study also identifies major gaps in existing defense systems, particularly in user awareness, network security, and vulnerability management. Based on the analysis conducted, several important points have been noted, emphasizing the critical importance of a comprehensive approach to cybersecurity, which entails close cooperation between the government, businesses, international organizations, and civil society. Additionally, there is an emphasis on the need for continuous investment in research and development of innovative security technologies, as well as in training and increasing awareness among end-users. Conclusions. Overall, the threats to the digital economy are complex challenges that are constantly evolving and require a proactive and coordinated approach from governments, businesses, and individuals. By working together to enhance the security and resilience of digital systems, we can better protect the digital economy and preserve trust in the online environment. Ultimately, cybersecurity threats pose a serious challenge to the digital economy and the institutional sector. By taking proactive security measures such as implementing robust security policies, training personnel, and utilizing state-of-the-art technologies, financial institutions can mitigate risks associated with cyber threats and safeguard the security and confidentiality of their clients' data.