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Privacy, Data Protection, and Public Interest Considerations for Fintech

In: Global Perspectives in FinTech

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  • Aleksandr P. Alekseenko

    (Saint-Petersburg University)

Abstract

Fintech is highly dependent on the processing of information about customers and its analyses. Currently, there are not any internationally adopted standards for data protection. The cross-border transfer of personal data by Fintech companies raises many issues concerning the regulation of data privacy. On one side, it is very important to ensure the privacy of customers, but at the same time anonymity could hurt the public interest. Based on comparative research, this chapter analyzes the challenges caused by Fintech with regard to data privacy regulation. It is concluded that a model for an international legal framework on data privacy is needed. It could harmonize the different approaches of governments and standardize their policy for Fintech.

Suggested Citation

  • Aleksandr P. Alekseenko, 2022. "Privacy, Data Protection, and Public Interest Considerations for Fintech," Springer Books, in: Hung-Yi Chen & Pawee Jenweeranon & Nafis Alam (ed.), Global Perspectives in FinTech, chapter 0, pages 25-49, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-11954-5_3
    DOI: 10.1007/978-3-031-11954-5_3
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    References listed on IDEAS

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    1. Azzone, Giovanni, 2018. "Big data and public policies: Opportunities and challenges," Statistics & Probability Letters, Elsevier, vol. 136(C), pages 116-120.
    2. Gozman, Daniel & Willcocks, Leslie, 2019. "The emerging Cloud Dilemma: Balancing innovation with cross-border privacy and outsourcing regulations," Journal of Business Research, Elsevier, vol. 97(C), pages 235-256.
    3. Sean Foley & Jonathan R Karlsen & Tālis J Putniņš, 2019. "Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1798-1853.
    4. Vladimir I. Soloviev, 2018. "Fintech Ecosystem and Landscape in Russia," Journal of Reviews on Global Economics, Lifescience Global, vol. 7, pages 377-390.
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