Unfair Practices in Banking Ecosystems

Abstract

The paper examines peculiarities of manifestation of unfair behavior by the banks as specific subjects of an offense. The author concludes that at the present stage banking activities are being transformed due to the emergence of banking ecosystems, digitalization of banking activities, concentration of big customer data inbanks and a high-risk nature of banking activities for customers. In this regard, new practices of unfair behavior are emerging. The paper substantiates that creation of other legal entities by credit organizations, the main activity of which should be trading, insurance and production activities prohibited for banks, should be qualified as a kind of unfair behavior. Based on the conducted research, the author came to the conclusion that the emergence of banking ecosystems, the sale of services by banks to non-credit financial organizations and new technologies predetermine the need to improve the liability of banks for unfair behavior.