A new security paradigm for the financial industry

On March 27, 2023 an expert round table will be held online. This is a closed-door event organized by the Information Security Institute (ISI) under the scientific patronage of the European Academy of Sciences of Ukraine (EUASU). The round table will focus on defining a new security paradigm for the financial industry.

The financial industry has been struggling with the problem of cybersecurity for more than 15 years. Despite multibillion dollar infusions, the root of the problem is still unresolved. According to an IBM study, 95 percent of cybersecurity breaches leading to cyber hacks are caused by human error. It is becoming clear that the root problem that leads to crimes in the financial industry is the human factor. Thus, the purpose of the upcoming expert roundtable is to explore the possibilities of developing a new security paradigm that takes into account the human factor.

According to ISI experts in the financial sector, about 80% of crimes remain “behind the scenes”. These crimes may be treated differently in different countries in terms of local laws and criminal codes. However, all of these crimes have two things in common: they are either caused by insider threats or mistakes made by financial sector employees. These crimes will never be made public, so they will always be in the “blind spot” for the expert community. On the other hand, the reasons and motives of the financial institutions are clear. Any publicity of such cases causes serious reputational risks. In most cases, such incidents are resolved in pre-trial proceedings, in particular, through mediation.

The expert roundtable will invite each participant to share the results of their research, as well as hypotheses, which will help create a comprehensive security industry agenda for financial institutions.

The roundtable will discuss five key issues:

1. How should cyber security be treated? Considering the fact that despite multimillion-dollar infusions, this toolkit never solved the industry’s key problems

2. How can social cybersecurity (as a new interdisciplinary research area) help solve the root problem in the financial sector?

3. What might a new security paradigm in the financial sector look like? What are the requirements for the new paradigm so that no mistakes can be made during the design stage?

4. What might an appropriate professional development program for a CISO (chief information security officer) for financial institutions look like?

5. What industries, other than finance, urgently need a similar approach to solve their technological problems?

This expert Round Table is a closed style event and organized by the Information Security Institute, under the scientific patronage of the European Academy of Sciences of Ukraine. Total duration: up to 120 minutes. The first part of the round table: presentations by speakers lasting up to 5 minutes. Second part: joint discussion of key issues with the involvement of a moderator. Each speaker has the opportunity to send an extended version of the report in any convenient format (video or text) 3–5 days before the event.


  • Professor Harvey Wolf Kushner 
    Chairman of the Criminal Justice Department and a Professor of Criminal Justice at LIU Post, Brookville, New York. Internationally recognized expert on terrorism. Kushner has authored numerous columns, editorials, and six books, five of which focus on the pervasive problems inherent in international and transnational terrorism. His best-seller Encyclopedia of Terrorism has won numerous awards. 
  • Dr. Oleg Maltsev 
    Author, criminologist, security expert, psychologist, photographer, and investigative journalist. He is a member of the presidium and academic researcher at the European Academy of Sciences in Ukraine (EUASU) and a member of the Ukrainian Academy of Sciences. He is an author of numerous books in areas such as applied history, sociology, depth psychology, philosophy, criminalistics, and criminology. He is an editor of several interdisciplinary peer-reviewed journals. 
  • Professor Kathleen M. Carley 
    Professor in the School of Computer Science in the Carnegie Mellon Institute for Software Research at Carnegie Mellon University and also holds appointments in the Tepper School of Business, the Heinz College, the Department of Engineering and Public Policy, and the Department of Social and Decision Sciences. Director, CASOS Center at Carnegie Mellon University. Co-Director, Social Cyber-Security Working Group 
  • Massimo Ortolani 
    Economist and economic consultant. He has been working in the ENI group, Mediocredito centrale and Unicredit group, with assignments mostly focused on international activities, assessment of geopolitical country risk and evaluation of investment projects. He has also worked as consultant in Latin America for UNIDO, and in Kazakhstan within EU programs. During the last decade has been focusing its research studies on geoeconomic risks, also as a lecturer on Economic Intelligence at the Tor Vergata University and Link Campus University of Rome. He is the author of “Economic Intelligence and Geoeconomic Conflict”, among many other works. 
  • Willy Fautre 
    EUASU expert. The founder of Droits de l’Homme sans Frontières, Belgium. Former chargé de mission at the Cabinet of the Belgian Ministry of Education and at the Belgian Parliament. He is the director of Human Rights Without Frontiers, an NGO based in Brussels that he founded in 2001. He is a co-founder of the Raoul Wallenberg Committee, Belgium. 
  • Andrew Hoskins 
    EUASU Academician, Interdisciplinary Professor of Global Security in the College of Social Sciences, University of Glasgow UK. His latest book (with Matthew Ford) is Radical War: Data, Attention & Control in the Twenty-First Century (Hurst/OUP). He is founding Co-Editor-in-Chief of the Cambridge Journal of Memory, Mind & Media (2021-), founding Editor-in-Chief of the Sage Journal of Memory Studies (2008-), and founding Co-Editor-in- Chief of the Journal of Digital War (2020-). 
  • Costantino Slobodyanuk 
    Presidium Member of EUASU. Associate fellow of the Ukrainian Academy of Sciences. Head of the Strategic council of the Information Security Institute. Head of Сivil Society Organization Kavalyer. Editor-in-chief of the Newspaper Unsolved Crimes. He is engaged in the studies of online reputation management and security of enterprises. 
  • Olga Panchenko 
    Corresponding Member of EUASU, attorney, and Director of Redut Law Company. n An associate fellow of the Ukraine Academy of Sciences. Chief editor of the Newsletter on the Results of Scholarly Work: in sociology, criminology, philosophy and political science. Journalist of the newspaper Unsolved Crimes. Presidium member of Odessa Scientific-Humanitarian Society and Historic- Literature Scientific Society. 
  • Irina Lopatyuk 
    Corresponding Member of EUASU. Associate fellow of the Ukraine Academy of Science and the Memory Institute. Analyst, expert in psychodiagnostic and professional selection. She is author, translator, journalist and chief editor of the Newsletter of the Scientific Medical Society — Hippocrates. Fellow member of the special scientific unit of the Memory Institute — Expeditionary Corps. Chairman of Odessa Historic-literature scientific society and secretary of Psychological and Philosophical Scientific Society. 
  • Pavlo Pedina 
    EUASU expert, expert in finance, banking, insurance, and asset valuation. Financial consultant. Investment adviser for Slav Invest, financial director of MANORM Holding, and the head of the Paradox Credit Protection Society. 



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