Definition of the concept of fraud in the field of banking

In the article the author examines the acts which are considered to be fraudulent in the field of banking. The purpose of the study is to define the concept of fraud in the field of banking, the acts which are related to it, and to formulate proposals to the Criminal Code of Ukraine based on a thorough analysis of the provisions of current criminal law and scientific sources. The author notes that fraud in banking poses a threat to banking in particular and the economy in general, since their commission entails rather serious negative consequences and affects the entire financial and economic security of the State. To ensure the efficient operation of banking institutions and their financial security, it is necessary to develop and implement an effective fraud detection and prevention system. This includes the use of advanced software solutions and compliance with security standards when working with electronic payment systems, identifying potential threats and using appropriate measures to prevent and deter fraud in the banking sector. The article notes that in order to effectively prevent fraud in the banking sector, it is necessary to first understand its essence, define the definition of this concept and generally characterize the actions which are the objective side of criminal offenses related to the commission of the analyzed types of fraud. On the basis of a thorough legislative, regulatory and scientific study and harmonization of the very definition of «fraud in the field of banking», the author proposes amendments and proposals to the Criminal Code of Ukraine. Based on the scientific analysis of the definition of the concept under study, it can be concluded that frauds committed in the banking sector include the following acts: frauds with bank accounts, frauds with credit cards, frauds related to forgery of documents for obtaining loans, as well as illegal actions by bank employees which result in fraudulent actions.