VICARIOUS LIABILITY FOR V-KYC FAILURES: RESOLVING THE“AUTHORISED VENDOR” PARADOX UNDER INDIA’S DIGITAL BANKING FRAMEWORK
The 450,000 fake accounts and ₹17,000 crore laundered that were part of India’s 2024 mule account saga have, at last, revealed the main defect in the whole regulatory structure of video-based Know-Your-Customer processes. Besides, the use of deepfake technology to bypass the banks’ “authorised vendors” facial recognition systems brought up the urgent question: who is responsible when outsourcing of identity verification goes wrong catastrophically? The present study is aimed at unveiling the...
