DATABASE SECURITY ASSESSMENT CRITERIA IN FINANCIAL SYSTEMS

ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1403 DATABASE SECURITY ASSESSMENT CRITERIA IN FINANCIAL SYSTEMS Abduganieva Malika Orifjon kizi Student of Fergana State Technical University Ikromova Sarvinoz Iqboljon kizi Student of Fergana State Technical University Zokirov Sanjar Ikromjon ugli Associate Professor of the Department of ATT, Fergana State Technical University Abstract. Today, information security has become an important component of the activities of financial organizations. The accumulation of large amounts of confidential information in financial systems further strengthens the need to ensure their protection. The increase in cyber risks requires the organization of database security in banks and other financial organizations based on modern requirements and international standards. At the same time, financial stability is closely related to reliable protection of information resources and effective risk management. This article analyzes the issues of ensuring database security in financial systems, the relationship between security and financial stability, and ways to assess and apply them in practice. Keywords: financial stability, types of financial stability, risk management, liquidity, corporate strategy, sustainable development, assessment criteria, identification, authentication, automated banking system. Annotatsiya. Bugungi kunda axborot xavfsizligi moliyaviy tashkilotlar faoliyatining muhim tarkibiy qismiga aylangan. Moliyaviy tizimlarda katta hajmdagi maxfiy ma’lumotlarning jamlanishi ularning himoyasini ta’minlash zaruratini yanada kuchaytirmoqda. Kiberxavflarning ortib borishi banklar va boshqa moliyaviy tashkilotlarda ma’lumotlar bazasi xavfsizligini zamonaviy talablar va xalqaro standartlar asosida tashkil etishni taqozo etadi. Shu bilan birga, moliyaviy barqarorlik axborot resurslarining ishonchli himoyasi va xavf-xatarlarni samarali boshqarish bilan chambarchas bog‘liqdir. Mazkur maqolada moliyaviy tizimlarda ma’lumotlar bazasi xavfsizligini ta’minlash masalalari, xavfsizlik va moliyaviy barqarorlik o‘rtasidagi bog‘liqlik hamda ularni baholash va amaliyotda qo‘llash yo‘llari tahlil qilinadi. Kalit so‘zlar: moliyaviy barqarorlik, moliyaviy barqarorlikning turlari, risklarni boshqarish, likvidlik, korporativ strategiya, barqaror rivojlanish, baholash mezonlari, identifikatsiya, autentifikatsiya, avtomatlashtirilgan bank tizimi. Аннотация. Сегодня информационная безопасность стала важной составляющей деятельности финансовых организаций. Накопление больших объемов конфиденциальной информации в финансовых системах еще больше усиливает необходимость обеспечения ее защиты. Рост киберрисков требует организации безопасности баз данных в банках и других финансовых организациях на основе современных требований и международных стандартов. При этом финансовая стабильность тесно связана с надежной защитой информационных ресурсов и эффективным управлением рисками. В данной статье анализируются вопросы обеспечения безопасности баз данных в финансовых системах, взаимосвязь между безопасностью и финансовой стабильностью, а также способы их оценки и применения на практике. ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1404 Ключевые слова: финансовая стабильность, виды финансовой стабильности, управление рисками, ликвидность, корпоративная стратегия, устойчивое развитие, критерии оценки, идентификация, аутентификация, автоматизированная банковская система. Introduction. In today's era of globalization and the rapid development of digital technologies, the activities of financial systems are increasingly dependent on information resources and databases. Banks, insurance companies, investment and credit organizations collect, store and process large amounts of financial, economic and personal data in their daily activities. Reliable protection of this data is of great importance not only for the stability of individual financial institutions, but also for the smooth functioning of the entire financial system 1 . The number and complexity of threats to database security in financial systems are increasing year by year. Unauthorized access, data modification or loss, illegal actions by internal employees, and cyberattacks pose a serious threat to financial stability. In such conditions, information security cannot be limited to technical protection measures alone, but it is necessary to assess the level of security based on specific criteria and constantly monitor it. From this point of view, the development and implementation of criteria for assessing database security in financial systems is one of the urgent issues. International standards, including ISO/IEC 27001, NIST and other cybersecurity requirements, offer a comprehensive approach aimed at ensuring the confidentiality, integrity and availability of information resources. This article analyzes the main criteria for assessing database security in financial systems, their relationship with financial stability and risk management, and their practical significance. Main part Financial stability and its types. Financial stability is one of the important indicators that ensure the continuous and effective conduct of economic activities of the financial system and individual economic entities. It reflects the adequacy of financial resources, the ability to fulfill obligations in a timely manner, and the level of adaptability to external and internal risks. Stability in the activities of financial organizations, in particular banks, is closely related not only to profitability, but also to reliable protection of information resources and databases. There are several types of financial stability that allow a comprehensive assessment of the financial condition of an organization. In particular, absolute financial stability means that the organization can operate at its own expense, while normal financial stability means ensuring stability through the rational use of borrowed funds. An unstable financial situation is characterized by increased financial risks and liquidity problems. A crisis financial situation is characterized by a limited ability to fulfill obligations 2 . In the process of identifying and assessing these types, liquidity indicators, capital adequacy, risk management system and information security level are of great importance. In particular, in conditions where database security is not sufficiently ensured in financial systems, serious threats to financial stability may arise. Therefore, financial Financial stability and its types. Financial stability is one of the important indicators ensuring the continuous and effective economic activity of the financial system and individual business entities. It reflects the adequacy of financial resources, the ability to fulfill obligations in a timely manner, and the level of adaptability to external and internal 1 ISO/IEC 27001:2022 Information Security Management Systems – Requirements. 2 Bessis J. Risk Management in Banking. – Wiley, 2015. ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1405 risks. Stability in the activities of financial organizations, in particular banks, is closely related not only to profitability, but also to reliable protection of information resources and databases. There are several types of financial stability, which allow a comprehensive assessment of the financial condition of the organization. In particular, absolute financial stability means that the organization can operate at its own expense, while normal financial stability means ensuring stability through the rational use of borrowed funds. An unstable financial situation is characterized by increased financial risks and liquidity problems. A crisis financial situation is characterized by a limitation in the ability to fulfill obligations. In the process of identifying and assessing these types, liquidity indicators, capital adequacy, risk management system, and the level of information security are of great importance 3 . In particular, in financial systems, where database security is not sufficiently ensured, serious threats to financial stability may arise. Therefore, financial Risk management and liquidity. An important component of ensuring stability in financial systems is risk management 4 . Risk management is the process of identifying, assessing, monitoring and taking measures to mitigate various risks that arise in the activities of a financial institution. The main types of risk in banks and other financial institutions include credit risk, liquidity risk, market risk, operational and cybersecurity risks. Effective management of these risks serves to maintain financial stability and ensure customer confidence. Liquidity is the ability of a financial institution to fulfill its obligations in a timely and complete manner, and is one of the most important indicators of financial stability 5 . Lack of liquidity can not only disrupt operational activities, but also pose a serious threat to the financial security of the organization. The main indicators for assessing liquidity are: the availability of physical cash, the volume of quick assets, the current liability coverage ratio and other financial ratios. Database security also plays an important role in the process of managing risks and ensuring liquidity in financial systems 6 . If the completeness, confidentiality, and availability of data are not guaranteed, the risks of financial losses resulting from errors or unauthorized access increase 7 . Therefore, in modern financial organizations, it is necessary to implement security measures with an integrated approach, as well as constant monitoring of liquidity and risks. Corporate strategy and sustainable development. One of the important conditions for sustainable operations in financial organizations is the clear definition and implementation of a corporate strategy 8 . Corporate strategy serves to achieve long-term goals by coordinating the organization's financial resources, investments, risk management system and information security. When the strategic approach is effective, the financial stability, liquidity and risk management system are harmonized, which strengthens the financial security of the organization. Sustainable development, on the other hand, means ensuring the long-term and uninterrupted operation of financial and economic systems. It includes not only financial stability, but also information security, efficient use of resources and innovative capabilities. 3 Bessis J. Risk Management in Banking. – Wiley, 2015. 4 Bessis J. Risk Management in Banking. – Wiley, 2015. 5 Ковалёв В.В. Финансовый анализ: управление капиталом, выбор инвестиций. – М.: Финансы и статистика, 2012. 6 ISO/IEC 27001:2022 Information Security Management Systems – Requirements. 7 NIST SP 800-53 Security and Privacy Controls for Information Systems and Organizations. – NIST, 2020. 8 Van Horne J.C., Wachowicz J.M. Fundamentals of Financial Management. – Pearson Education, 2014. ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1406 The principles of sustainable development allow financial systems to increase their ability to fulfill obligations, strengthen the trust of customers and investors and ensure competitiveness. Corporate strategy and sustainable development are closely interconnected, and in the process of their implementation, database security, user identification and authentication systems, as well as risk monitoring are of great importance. Thus, financial organizations can develop their activities in a strategic and sustainable direction and strengthen financial stability. Database security assessment criteria. Ensuring database security in financial systems is an integral part of stability and financial risk management. Security criteria are determined based on the confidentiality, integrity and availability of data, that is, they are assessed based on the CIA triad. 9 1. Confidentiality (C) – ensuring that only authorized users have access to data 10 . Bu mezon autentifikatsiya va identifikatsiya jarayonlari orqali amalga oshiriladi. 2. Integrity (I) – means that data has not been altered and is protected from improper manipulation 11 . Audit jurnallari va zaxira nusxalari bu mezonni ta’minlash vositalaridir. 3. Availability (A) – means that data is available to users when they need it, and the system operates uninterruptedly 12 . This is ensured through replication and disaster recovery systems. The following formula can be used to assess the level of security: where: • S is the overall security index, • C is the confidentiality level (0–1), • I is the integrity level (0–1), • A is the availability level (0–1). The assessment criteria can also be enriched with indicators such as the number of risks, unauthorized access attempts, and the probability of data loss. This approach allows financial organizations to systematically and numerically monitor the level of database security and is consistent with sustainable development and corporate strategy. Identification and authentication. One of the important tools for ensuring database security in financial systems is the process of identifying and authenticating users. Identification is the process of identifying a user in the system, that is, determining his identity. For example, a user logs into the system with a login or account number. Authentication is the process of confirming the user's authenticity. This is done through a password, PIN code, magnetic card or two-factor authentication. These processes serve to prevent unauthorized access and data modification in financial systems. Indicators related to the effectiveness of identification and authentication, the number of unauthorized accesses to the system and the level of security are taken as evaluation criteria. For example, security level S can be considered as follows: 9 Bessis J. Risk Management in Banking. – Wiley, 2015. 10 ISO/IEC 27001:2022 Information Security Management Systems – Requirements. 11 NIST SP 800-53 Security and Privacy Controls for Information Systems and Organizations. – NIST, 2020. 12 Stallings W. Computer Security: Principles and Practice. – Pearson, 2021. ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1407 where U is the identification and authentication efficiency coefficient 13 . Practical analysis (on the example of a banking system). A practical assessment of database security in financial systems can be considered on the example of banking. For example, in the “X Bank” system, the level of security is assessed based on the indicators of confidentiality (C), integrity (I) and availability (A). Each criterion is measured with a score from 0 to 1. Formulas where: • S is the overall security index, • Ri is the coefficient of unauthorized access, • L is the liquidity coefficient. Table 1. X Bank security indicators (example). Criterion Score ( (0–1) Confidentiality (C) (C) 0.92 Integrity (I) (I) 0.88 Availability (A) (A) 0.90 Overall Security (S) (S) 0.90 Unauthorized Access (Ri) (Ri) 0.02 Liquidity (L) (L) 1.25 The results of the analysis show that the banking system has a high level of security, with minimal unauthorized access. The liquidity ratio of 1.25 ensures financial stability. At the same time, regular monitoring and auditing of security criteria in the system, as well as updating cybersecurity measures are required. Practical analysis shows that the assessment of database security in financial organizations is related not only to technical, but also to financial indicators, which is important in ensuring the stability of banking activities. Conclusion. In conclusion, ensuring database security in financial systems is an integral part of maintaining financial stability today. The results of the study show that risk management, liquidity provision, corporate strategy and sustainable development principles in financial organizations are 13 Whitman M.E., Mattord H.J. Principles of Information Security. – Cengage Learning, 2018. ISSN: 2582-4686 SJIF 2021-3.261,SJIF 20222.889, 2024-6.875 ResearchBib IF: 9.948 / 2024 VOLUME-5, ISSUE-12 1408 inextricably linked with database security. Unauthorized access, loss or modification of data, internal and external threats pose a serious threat to financial stability, therefore, it is necessary to implement identification and authentication processes, as well as international standards and cybersecurity measures. The results of practical analysis show that if the level of security, the number of unauthorized accesses and liquidity indicators are regularly monitored in the banking system, it is possible to maintain financial stability and ensure sustainable development. Indicators such as confidentiality, integrity, availability and authentication efficiency are used to assess database security criteria, which provides a systematic and quantitative approach. At the same time, regular security audits, risk assessment and the implementation of strategic measures in the activities of financial organizations are of great importance for sustainable financial development. 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