Assessment of data reliability

Assessment of data reliability: telecommunication operators will earn in the interests of the banking system

Committee of the State Duma of the Russian Federation on Financial Market advised to adopt in the first reading the bill on checking the current data on mobile subscribers by banks. It should be noted that this is a common denominator of disparate databases: banks and mobile operators now have certain customer information, including biometric data. The service confirming the current data of the phone number owner must be available to all players, including the Central Bank, commercial financial institutions and telecommunication operators. It should be noted that Rostelecom offered the first attempt to collect a full database of clients of financial services. Biometric information includes customer photos and voice sample. This data is enough for provision of remote services by banks. The system is resistant to fraud and does not allow data emulation for trading purposes.

At the moment, the use of anonymous numbers continues to pose a threat to the banking system. In particular, bank transfers up to RUB 100 000 and microcredits can be obtained by using an anonymous mobile number purchased in “grey” sellers.

Evaluation of data reliability will lead to a decrease in financial fraud

The database of mobile operators needs to be revised. In only three months of 2018, the Ministry of Internal Affairs seized 20,000 anonymous mobile numbers, intended for illegal financial transactions. The huge base of telephone numbers is “toxic”. This means that people buy numbers from mobile operators that were previously owned by other citizens with negative credit history. The service, which is proposed to be implemented in Russia, implies a single database of telephone numbers linked to passport and biometric databases of citizens. The system must be transparent and adaptable.

When compiling a new base, a huge burden will lay on telecom network operators, because it is thanks to them that banks will be able to find out who uses a telephone number and whether the unique numbers by which the customer can be identified have been transferred to another person. An effective system of interaction is being developed, where all government and commercial entities are required to provide information about their users as soon as possible: it is necessary to create a hacking protected system with increased levels of encryption, because leaks in such a database can lead to disaster.