Unified Information System for Subscriber Verification Faces Security and Pricing Debates

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The draft law under discussion aims to standardize the exchange of subscriber data between banks and telecom operators through a centralized information framework. This initiative, endorsed in part by the Russian Union of Industrialists and Entrepreneurs (RSPP) after the recent meeting of its Communications and Informatics Commission, signals a drive toward tighter oversight of how financial and communications data intersect in the market. The central idea is the creation of a Unified Information System for Subscriber Verification (UIS PSA), a tool designed to confirm and cross-check subscriber identities by their phone numbers, with the goal of reducing fraud and protecting customers who rely on financial services. The promoters argue that linking banking access to verified phone data would help curb the use of gray SIM cards in fraudulent transactions. Yet there is significant skepticism about the proposal, particularly from the perspective of data security and privacy, and the RSPP has warned that new gaps could emerge in the handling and protection of subscriber information.

Industry participants worry about the practical dynamics the system could unleash. There is fear that telecom operators may seek to monetize access to information by charging banks for data transfers and then distributing part of the revenue back to themselves. In such a scenario, the industry worries that operators would gain new leverage over banks, potentially undermining neutral, cost-effective information flows. The central concern is not merely about who supplies the data, but about how pricing structures would shape the market. A tightly integrated, single-source information channel could tilt the playing field toward a monopoly, elevating the price of data services for banks and potentially slowing down the broader deployment of digital financial services. These concerns reflect a broader tension between regulatory aims and market incentives that shape the cost and ease of meeting customer verification requirements.

According to sources cited by Kommersant, the government has emphasized that any such system should be designed with robust safeguards and transparent governance. The Ministry of Digital Development, together with the largest domestic telecom operators, has been noted as actively developing a version of the industry development strategy through 2035. This long-term plan envisions a framework in which digital identity verification becomes a core component of financial and telecommunications markets, aimed at strengthening security while enabling smoother customer experiences. However, this vision also invites careful scrutiny of how data is stored, processed, and accessed, and who benefits most from the resulting efficiencies. The dialogue continues among policymakers, industry stakeholders, and consumer advocates about balancing security with privacy, cost, and competition in a rapidly evolving digital ecosystem. (Kommersant)

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