Disadvantages:
1. Internet finance is on the Internet, and some transactions are even conducted online from the beginning to the completion, and the actual situation cannot be seen. There is also a risk of personal information being leaked.
2. Online lending risks require investors, borrowers and others to make their own judgments, and risks coexist.
What legal issues are involved in Internet finance
1. Identity authentication
After the promulgation of the "Electronic Signature Law", electronic signatures have become a nationally recognized signature method. Digital signatures certified by third-party organizations can accurately identify the customer's true identity and are absolutely reliable. However, in platform financing business, trading centers and other cooperative institutions may not be willing to cooperate with electronic certification agencies due to cost considerations. In this case, to accurately verify the customer's identity, relevant remedial measures need to be taken: First, banks can urge trading centers and other cooperative institutions to continuously improve the security of their internal networks through contracts or other means. Second, the bank can set necessary terms in the platform agreement, such as: "I confirm that the trading center network environment is secure, and enter the user name (trading account number) and login password in the trading center network as my reliable electronic signature, representing My true intention is expressed. ”
2. Agreement validity
In order to ensure the validity of the agreement, the bank shall conduct necessary reviews on the contracting parties to ensure that natural persons, legal persons or other persons have full capacity for civil conduct. The organization is established in accordance with the law and continues to exist legally. In view of the obvious advantages that banks have in contracting, in order to ensure the authenticity of the intention to conclude the contract, the bank should pay attention to providing sufficient risk warnings to customers in the content of the agreement, and make the agreement comply with "compliance charges, quality-based pricing, openness and transparency, fee reduction" The principle of "giving profit".
3. Burden of Proof
Article 75 of the "Several Provisions of the Supreme People's Court on Evidence in Civil Litigation" stipulates: "There is evidence that one party holds evidence and refuses to do so without justifiable reasons." If the other party claims that the content of the evidence is not conducive to the evidence holder, it can be presumed that the claim is established. "This provision is called the "presumption of possession rule" in procedural law, and the legitimacy of the presumption of possession rule lies in that. When one party hinders the other party from producing evidence, the obstructer shall bear the adverse consequences of the lawsuit. In platform financing business, banks should pay attention to preserving relevant evidence such as electronic contracts. Otherwise, if the customer proposes that the bank holds certain evidence and the bank is unable or refuses to submit it, the court may make an unfavorable inference against the bank.
4. Delivery of Notices
The significance of clarifying the notice and delivery rules in the platform financing contract is: first, it is conducive to smooth communication between the bank and other contracting parties. , to avoid misunderstandings or disputes due to poor information communication during the performance of the contract; secondly, according to the provisions of the Contract Law, a unilateral legal act takes effect from the date the notice reaches the other party. Therefore, clear notification and delivery The rules are conducive to the bank's exercise of unilateral right of termination or cancellation and safeguard the interests of the bank.
5. Information confidentiality
Banks can take the following measures to avoid the responsibility of leaking customer information: First, the customer must issue a letter of authorization to clarify the bank’s possession and use of customer information. authority; secondly, the exceptions to the confidentiality obligation must be specified in the agreement signed with the client; thirdly, the agreement signed with the counterparty must specify that the counterparty has the obligation to keep confidentiality for the client. In addition, banks should also strengthen employee training to avoid employee moral hazard.
VI. Customer Notification
The main significance of customer notification is: through sufficient information communication, the customer can clearly understand the nature of the business and possible risks, so that the contracting behavior represents its true nature. Expression of intention to ensure the legal validity of the contract and avoid misunderstandings, conflicts and disputes during the performance of the contract. The key to customer notification lies in the authenticity, accuracy, completeness and timeliness of information disclosure.
7. Customer authorization
In order to ensure the smooth development of business, banks should ensure that authorization has sufficient breadth, including information use, financial supervision, fund transfer, credit inquiry, information Reserve etc. In terms of the depth of authorization, the irrevocability of the authorization should be made clear, that is, the customer confirms that this authorization will continue to be valid before the platform financing business is terminated, and the borrower will not revoke or cancel it in any way.
8. System Security
System security issues have always been the focus of customers' attention, and security is a key factor that determines whether the platform's financing business can develop sustainably, rapidly, and healthily. Banks can improve the security of the platform by clarifying the system security obligations of partners, establishing a large-scale online banking database, and establishing a unique "blacklist" of non-performing borrowers.
9. Customer complaints
For banks, customer complaints are both a risk and an opportunity to resolve disputes. To this end, banks should establish a complaint handling mechanism and an emergency response mechanism so that customer complaints can be responded to and handled quickly. In addition, the bank should stipulate exemption clauses in the agreement. For example, the bank will not bear any responsibility if the business fails or is suspended due to technical risks, legal risks, policy risks and other factors.
10. Loan collection
First of all, banks should focus on the collection of property information: for prior information collection, banks can set obligations for borrowers or data platforms to provide property information. To achieve this in a certain way; for subsequent information collection, the bank should inquire by itself or entrust others to inquire. Secondly, banks should promptly take preservation measures, including property preservation, behavior preservation, pre-litigation preservation, and litigation preservation. Thirdly, banks should selectively adopt supervision procedures, special procedures for realizing security rights, and compulsory notarization based on the different characteristics of the case. When necessary, banks can also outsource loan collection services to professional organizations such as law firms.
Legal basis:
"The People's Bank of China, the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Finance, the State Administration for Industry and Commerce, the Legislative Affairs Office, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission, the National Internet Information Guiding Opinions of the Office on Promoting the Healthy Development of Internet Finance"
II. Classified guidance and clarifying the regulatory responsibilities of Internet finance
The essence of Internet finance is still finance, and it has not changed the concealment and contagion of financial risks. Characteristics of sexiness, extensiveness and suddenness. Strengthening Internet financial supervision is an inherent requirement to promote the healthy development of Internet finance. At the same time, Internet finance is a new thing and an emerging industry. It is necessary to formulate moderately loose regulatory policies to leave room and space for Internet financial innovation. By encouraging innovation and strengthening supervision to support each other, we will promote the healthy development of Internet finance and better serve the real economy. Internet financial supervision should follow the principles of "legal supervision, appropriate supervision, classified supervision, coordinated supervision, and innovative supervision", scientifically and rationally define the business boundaries and access conditions of each business format, implement supervisory responsibilities, clarify the bottom line of risks, protect legitimate operations, and resolutely Crack down on illegal activities and irregularities.