The Use of Electronic Digital Signatures in Banking Relationships in the Russian Federation

The amount of cases on claims for damages caused by an unfounded charge-off by a bank has greatly increased in Russia over the past few years. This is because the parties to banking relationships have become used to operate electronic payment systems based on the electronic digital signature, but the security risks associated with the use of an electronic digital signature are not widely understood. In addition, the existing legal framework does not provide enough guarantees for the parties involved in electronic data documentation. This article is focused on the main difficulties that face those that use electronic payment systems in Russia.

The legal basis

The definition of an electronic digital signature (EDS) is specified in Article 3 of Federal Law No. 1-FZ on Electronic Digital Signature (the Law on EDS):

An electronic document detail intended for protecting the electronic document against forgery, obtained as the result of cryptographic data transformation through the use of the secret key of the electronic digital signature and allowing identification of the owner of a signature key certificate and also making sure no information distortion has occurred in the electronic document

All operations relating to electronic digital signatures are connected to information systems. According to the provisions of Article 2 of the Feder...

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