Risks of financial trust: attributes of financial fraud and personal financial security

The number and modification of forms of financial attacks in the sphere of personal finances are growing all over the world. Financial fraud is a threat to the financial well-being of citizens. The purpose of the study is to form a systemic understanding of the risks of financial fraud in the sphere of personal finances, to substantiate the relevance of counteracting financial crimes against citizens, to reveal the main mechanisms for identifying and overcoming unauthorized activities in the financial sphere used by state and non-state structures. In the course of the work, analytical, logical, empirical research methods were used. To identify the Russian specifics of financial fraud, the authors referred to national regulations, documents and databases of the Bank of Russia, Russian systemically important banks, the NAFI Analytical Center, and some other domestic and foreign institutions. The article examines the issues of financial fraud aimed at theft of personal financial resources, presents an analysis of the scale of banking operations without the consent of clients, the volume of theft of citizens’ funds, methods of committing financial fraud, the key tools used by financial institutions to reduce the risks of financial fraud, formulates the rules of personal financial security, and identifies some areas for overcoming the threats of financial fraud.