Distance Personal Identification in the On-line Environment: Problems of Financial Institutions in the EU

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Marius Laurinaitis
Darius Stitilis
Irmantas Rotomskis
Oksana Novak
Oleksii Lysenok
صندلی اداری


Electronic financial services are of key importance in the EU. However, the actual policies adopted in the field by individual member states differ from country to country. A great deal of legal acts have been adopted by the EU to encourage FinTech development, to prevent money laundering and in particular to lay down secure procedures of personal identification. However, measures applied by individual member states frequently differ. The purpose of this article is to focuses on actual legal instruments used by EU financial institutions and FinTech agencies in the digital environment for client identification and on major problems faced by FinTech companies rendering modern financial services. Financial institutions and FinTech agencies often face the problem of client identification which is of key importance in the field. The complex legal regulation of the field has been extended to include such concepts as customer due diligence, simplified customer due diligence, enhanced customer due diligence and customer identification in physical absence. Each of the ways of identification differs in the scope of collected personal data, methods of data collection, legal regulation and the use of technological instruments.


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Integration System of Education, Science and Production
Author Biographies

Marius Laurinaitis, Mykolas Romeris University

Ph.D., Associate Professor. His research interests include IT law, law of privacy and personal data protection, electronic identification law, electronic payments law, and electronic money. As a researcher, he has taken part in a variety of EU and national scientific projects.

Darius Stitilis, Mykolas Romeris University

Ph.D. in Law, Professor. He is the executive manager of the master's study program “Cybersecurity management” at Mykolas Romeris University. His research interests include IT law, cybersecurity law, privacy, and personal data protection law, electronic identification law, cybercrime. He has over 40 publications primarily in the field of law and IT. Under his direction, he was involved in several scientific EU and national projects. Also, he is the co-author of two scientific monographs regarding identity theft in cyberspace: legal and electronic business issues, and E-health.

Irmantas Rotomskis, Mykolas Romeris University

Ph.D. in Law, Associate Professor. He was granted a Ph.D. in law at Mykolas Romeris University in 2004. His research interests include IT law, law of privacy and personal data protection, and electronic commerce law. As a researcher, he has taken part in a variety of EU and national scientific projects.

Oksana Novak, Zhytomyr Polytechnic State University

Ph.D. in Economics, Associate Professor of the Department of Finance and Crediting in  Ukraine. Member of the Federation of Accountants, Auditors, and Financiers of the AIC of Ukraine. He teaches disciplines taught: Foreign Exchange Policy; Customs Policy; International Finance. Research interests: operations with financial assets and their reflection in accounting, analysis of operations of economic entities in financial markets, theoretical and methodological principles of operations with financial assets of economic entities. 

Oleksii Lysenok, National University of Food Technologies

The Doctor of Science (Dr.Sc.) in Economics, Professor of Finance Department in National University of Food Technologies (Kyiv, Ukraine). He teaches disciplines taught: Finance, money and credit; Banking system; Analysis of banking activities; Banking management. Scientific interests: management of financial and economic activities of banks; banking risk management; analysis of banking activities.


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