L&M Finance Group

ELECTRONIC POA AS A NEW METHOD TO FIGHT AGAINST RAIDING IN UKRAINE

In Ukraine, the fight against raiding and illegal seizure of property continues to intensify. This time, the Cabinet of Ministers of Ukraine proposed to allow notaries to issue powers of attorney in electronic form. The prospect of launching e-power of attorney provides that in addition to the standard power of attorney on a notarial form, every citizen can also receive a pdf-file (power of attorney in electronic form), certified by the electronic signature of a notary.
It is assumed that the electronic power of attorney will have the same force as the original issued on the notarial form, respectively. Despite the fact that the Cabinet of Ministers of Ukraine has not yet provided an explanation about the possibility of further using printed copies of notarised power of attorney (duly certified by a notary), we believe that with the advent of electronic power of attorney, ordinary printed copies of notarised power of attorney will completely become a thing of the past. At the same time, the government made it clear that electronic power of attorney will only go in addition to the standard power of attorney on a notarial form, and so far will not be issued separately from the usual paper.
It is expected that electronic power of attorney will provide maximum mobility for the actions of attorneys, since the power of attorney will always be found on smartphones or other electronic information carriers of the latter. In addition, electronic power of attorney is guaranteed to provide a higher level of protection of the relationship of the trusting attorney, since some cases of raiding occur precisely by forging notarial forms.
It is planned that the mechanism for issuing e-power of attorney will be put into effect without delay, immediately after the adoption of the relevant law. The Minister of the Cabinet of Ministers of Ukraine Dmitry Dubilet said on this occasion that the Notary Chamber of Ukraine, the Ministry of Justice and the Cabinet of Ministers are already working on a draft of such a law and will soon be able to provide its text.
Recall that earlier Dmitry Dubilet announced an initiative to introduce two-level authentication for state registrars. Instead of an electronic key on a regular "flash drive", the latter were asked to log in using SMS passwords, which, according to the minister, would help reduce raiding and guarantee protection against hacking of registrar computers in Ukraine. It is expected that the initiative will be fully supported, and the Ministry of Justice in the near future will make mandatory two-level authentication for all registrars.