Priority Threats to Financial Security in the conditions of the Modern Economy Transformation

. Introduction. The shadow economy is one of the main threats to the financial security of the state. Strengthening Ukraine’s economy is impossible without reducing the level of shadowing. Official data show that at the beginning of 2020 more than a quarter of GDP is in the shadows, but the real level of shadowing, in our opinion, is much higher. Purpose. The aim of the article is to deepen the theoretical and methodological foundations of substantiation of priority threats to financial security in the conditions of transformation processes in the modern economy, clarification of the optimal method of calculating the shadow economy in Ukraine and monitoring the impact of the shadow sector on financial security of Ukraine. Results. It was found that the system of threats to the financial security of Ukraine includes trends, phenomena and factors that actually or potentially complicate or make it impossible to preserve national values ​​in the financial sphere and the realization of national interests of Ukraine. Threats to security conditions are considered as certain factors or factors that create a danger, namely the existing and objective probability of negative impact on a complex system. Our own view on the classification of factors influencing the level of financial security is presented. It is noted that most often the factors influencing the level of financial security are interrelated, causing cyclical poverty and a permanently low level of financial security. It is analyzed that today the level of the shadow economy is 25-50%. To create the necessary conditions for reducing the level of the shadow sector of Ukraine’s economy, it is necessary to carry out a number of tax reforms, transformations in the banking system (to increase non-cash transactions, create an open database of NBU and MFIs), anti-corruption measures and more. Systematizing the methodological approaches to the assessment of the shadow sector, it was found that the main methods of assessing the level of the shadow sector are: public expenditure – retail trade; electric; unprofitable enterprises; monetary; method of minimal shadow economy. Conclusions. It is proved that the level of financial security of the state decreases with increasing level of shadow economy. This is due to the reduction of the tax base and, consequently, to the reduction of tax revenues to the budgets of all levels. Keywords: financial security; financial security of the state; financial security of households; transformational economy; shadow economy.