14 June 2023

Strengthening Financial Sovereignty in the Face of Modern Challenges and Threats: From Raising Financial Literacy to Ensuring Financial State Security International Research-to-Practice Conference

On June 14, Strengthening Financial Sovereignty in the Face of Modern Challenges and Threats: From Raising Financial Literacy to Ensuring Financial State Security international research-to-practice conference took place at the Rostov State University of Economics (RSUE) in a hybrid format.

The event started with a warm welcome from Ms. Elena Makarenko, the Rector of RSUE (RIE), and invited guests: Mr. Vladimir Gurba, Deputy Plenipotentiary Representative of the President of Russia in the Southern Federal District, representatives from ministries, departments of the Southern Federal District, regional branches of the Federal Financial Monitoring Service, and the International Network AML/CFT Institute’s universities (INI).

In his address, Mr. Vladimir Ovchinnikov, the First Deputy Director General of ITMCFM and Director of the International Network AML/CFT Institute, emphasized the vital role of INI universities in promoting financial security knowledge:

"INI participants conduct a lot of scientific and practical events. Today, it is gratifying to see representatives from various universities of the International Network AML/CFT Institute among the participants of this Conference. Over the past 10 years, INI has successfully connected numerous educational organizations from different countries. An important and significant project of INI that contributes to economic and financial security is the International Financial Security Olympiad. Each year, the interest among young people grows, leading to an increasing number of participants in the Olympiad movement. We are dedicated to advancing financial security as a way of life and developing a system of moral values among the younger generation."

Ms. Marina Shemyakina, Deputy Head of ITMCFM Department, delivered a speech during the plenary meeting of the conference "Strengthening financial sovereignty in the face of modern challenges and threats: from raising financial literacy to ensuring financial state security." In her report "Scientific and educational projects of ITMCFM in the field of financial security and AML/CFT," she emphasized:

"The concept of financial security goes beyond political, geographical, social, and economic scope. The need for financial outreach among the population is growing exponentially. Financial security knowledge helps young people change their attitude towards money, manage finances, prompts them to think about the future and plan their life needs."

The conference was divided into sections, discussion fora, and round tables, where university representatives, graduates, postgraduates, and students discussed the following topics:

  • Trends in banking and money circulation in the context of modern challenges;
  • A new paradigm for development of regional economy, industries, and enterprises;
  • Ensuring openness and transparency of public finances while increasing the level of budget literacy among the population;
  • Tax trends 2023 in the context of modern economic challenges and threats;
  • Ecosystems of banks, artificial intelligence, and new banking technologies as a basis for modernizing banking business;
  • Anti-corruption education and ensuring financial security in the financial market;
  • Effective pedagogical practices in the formation and development of financial culture considering the implementation of advanced FSES.

In addition to the main program, participants had the opportunity to test their knowledge through online team games:

  • Financial quiz on relevant issues in the field of economic culture (including financial literacy);
  • Information and intellectual quiz dedicated to the Year of Teachers and Mentors in Russia.

The event organizers: RSUE (RIE) with the support of ITMCFM and INI

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