Specialty literature and solutions in the market have been focusing in the last decade on collecting and aggregating significant amounts of data about transactions (and user behavior) and on refining the algorithms used to identify fraud. At the same time, legislation in the European Union has been adopted in the same direction (e.g., PSD2) in order to impose obligations on stakeholders to identify fraud. However, on the one hand, the legislation provides a high-level description of this legal obligation, and on the other hand, the solutions in the market are diversifying in terms of data collected and, especially, attempts to aggregate data in order to generate more accurate results. This leads to an issue that has not been analyzed yet deeply in specialty literature or by legislators, respectively, the privacy concerns in case of profile building and aggregation of data for fraud identification purposes and responsibility of stakeholders in the identification of frauds in the context of their obligations under data protection legislation. This article comes as a building block in this direction of research, as it contains (i) an analysis of existing fraud detection methods and approaches, together with their impact from a data protection legislation perspective and (ii) an analysis of respondents’ views toward privacy in case of fraud identification in transactions based on a questionnaire in this respect having 425 respondents. Consequently, this article assists in bridging the gap between data protection legislation and implementation of fraud detection obligations under the law, as it provides recommendations for compliance with the latter legal obligation while also complying with data protection aspects.

Technological development brings about economic changes that affect most citizens, both in developed and undeveloped countries. The implementation of blockchain technologies that bring cryptocurrencies into the economy and everyday life also induce risks. Authorities are continuously concerned about ensuring balance, which is, among other things, a prudent attitude. Achieving this goal sometimes requires the development of standards and regulations applicable at the national or global level. This paper attempts to dive deeper into the worldwide operations, related to cryptocurrencies, as part of a general phenomenon, and also expose some of the intersections with cybercrime. Without impeding creativity, implementing suggested proposals must comply with the rules in effect and provide sufficient flexibility for adapting and integrating them. Different segments need to align or reposition, as alteration is only allowed in a positive way. Adopting cryptocurrency decisions should be unitary, based on standard policies.

Drones have been used in recent years more and more in various economic sectors (e.g., military, agriculture, retail, transport), but also for personal use and entertainment. The current legislative framework and cyber security standards do not fully address the identification of liable stakeholders in the drone ecosystem for cyber-incidents and the requirement to implement preventive cyber-security measures. The aim of this paper is to investigate how the usage of drones fits in the context of the digital economy. For this purpose, we use a complex questionnaire which was sent to a total of 233 respondents from May to July 2021. The responses are analyzed from a qualitative and quantitative perspective. Our results highlight the areas of improvement in the existing legislation and find the following: (1) respondents are willing to pay additional direct and indirect costs related to cyber security to benefit from more secure drones, (2) the entire ecosystem involved in drone production, distribution, and usage is responsible for ensuring the prevention of security breaches, and (3) respondents perceive a shared liability of stakeholders for certain types of cyber-attacks depending on the role of the stakeholders in the drone ecosystem and the type of vulnerability exploited by the cyber-attack. The details on the specific cyber-attack use cases detail each of the above for each type of cyber-attack. Finally, we make proposals to accommodate the new types of use cases brought by the use of drones in various economic contexts. The results of this research paper assist policy makers in terms of improvement to existing legislation in terms of the drone ecosystem. In addition, they increase visibility for stakeholders in the drone ecosystem in terms of aspects to focus on in order to increase the trust of clients in drone usage.

This paper wraps together two big concepts. First of them is the economic and financial crime and the second one is the digitalization. Each one of them has its own sub-components. The economic and financial crime can be split in: corruption, shadow...