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Legal support for the activities of an international company involving the issuance of microloans in connection with the provision of financial services via the Internet

At the instruction of our client, Kachkin & Partners attorneys conducted an analysis of the procedure used by the international microfinancing organization for the remote provision of financial services via the Internet for the purposes of formulating recommendations on ensuring the legality of the concerned operations and protecting the client’s interests. The analysis resulted in the formulation of proposals concerning the identification of users and procedure governing agreement conclusion with the aid of a dedicated website, as well as ensuring compliance with the requirements governing the protection of personal data, collection of evidence on the circumstances surrounding agreement conclusion and the receipt of loan funds in the event of a legal dispute.

Based on these recommendations, the client modified its arrangement of interaction between users and the microfinancing organization’s Internet resource, making it possible to retain the validity of the transactions conducted via the website, while at the same time ensuring compliance with the numerous and stringent legal requirements binding on the financial sector.

Kirill Saskov

Partner
Head of Corporate and Dispute Resolution Practice, attorney

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Projects