Verification, authentication and [unattractive] nonrepudiation measures

At an institution, all measures aimed at ensuring – that the order placed by a customer is unambiguously attributable to the originator, i.e., that no unauthorized person uses his name, and – that an order received has reached the bank unaltered, in other words, that the content of a message unambiguously expresses the customer’s intent (procedures providing evidence of the identity of the sender of an order and the integrity of the message sent). In case of conspicuousness in both points, it is customary in business to ask the customer for confirmation. – Because institutions have received forged orders, especially in the stock exchange business, and because customers have relied on garbled messages in the case of loss-making transactions, institutions now pay great attention to the provision of proof, especially in the case of larger transactions (in or to prevent the sender of a message from successfully denying the submission of the order or the integrity of its contents, so that the institution incurs not insurable losses). – See authentication bot, bank information, bank secrecy, Financial Intelligence Unit, financial agent, money laundering, identity verification requirement, account, anonymous, account, false, account disclosure, account freeze, customer data information requirement, shadow banking, nominee, blackboard transaction, payment transactions regulation, secondary identification card.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/