BANCI | ENGLISH

EBA issues guidelines to strengthen requirements for the security of internet payments across the EU

Autor: Bancherul.ro
2015-01-05 08:24

The European Banking Authority (EBA) published today its final Guidelines on the security of internet payments, which set the minimum security requirements that Payment Services Providers in the EU will be expected to implement by 1 August 2015, said EBA in a statement.

Concerned about the increase in frauds related to internet payments, the EBA decided that the implementation of a more secure framework for internet payments across the EU was needed. These Guidelines are based on the technical work carried out by the European Forum on the Security of Retail Payments (SecuRe Pay).

Among various measures aimed at more efficient and secure internet payments across the EU, the EBA guidelines require in particular that Payment Service Providers (PSPs) carry out strong customer authentication in order to verify the customer identity before proceeding with an on-line payment, one of the key measures to prevent internet fraud, be it through banking services or internet card payments. These Guidelines, which are based on the technical work carried-out by SecuRe Pay -the voluntary cooperation forum reuniting central banks and supervisors of Payment Service Providers -, will be applicable to all PSPs across the EU in a consistent manner as of August 2015.

The EBA decided to issue these Guidelines because of the rising levels of fraud observed in internet payments. Latest pan-EU figures showed that fraud on card internet payments alone caused €794 million of losses in 2012 (up by 21.2% from the previous year). A timely and consistent regulatory response was therefore needed while waiting for the revision of the Payment Services Directive which aims at creating a more secure, competitive and consumer-friendly rules for payments in the EU.

Geoffroy Goffinet at the EBA Consumer Protection Unit explained that: "the EBA guidelines on internet payments provide the legal basis for achieving a level playing field for all PSPs across the EU. Through this piece of work, the EBA looked into supporting the development of e-commerce across the EU, while ensuring proper protection of consumers."

PSPs will also be required to provide assistance and guidance to their customers in relation to the secure use of internet payment services. In particular, they will have to initiate customer awareness programmes so as to ensure that their users understand risks and best practices in internet payments.

Regarding consumer data protection, the Guidelines foresee that PSPs offering card payment services to e-merchants should encourage them not to store any sensitive payment data or require that they have the necessary measures in place to protect these data. PSPs should also carry out regular checks and if they become aware that an e-merchant handling sensitive payment data does not have the required security measures in place, they should take steps to enforce this as a contractual obligation or terminate the contract.

All competent authorities across the EU are expected to comply with these Guidelines by incorporating them into their supervisory practices and amending their legal framework or their supervisory processes accordingly.

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%
•
Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
•
Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter
•
Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits
•
On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

19.04.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Cristian Stefan, Director directia reglementare
BNR

... vezi profil

Toate Profilele

Profil de Banca

CPBR

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

nevoia de banci
De ce credeti ca acum nu mai avem nevoie de banci si firme de asigurari? Pentru ca acum avem ... detalii
Mda
ACUM nu e nevoie de asa ceva .. acum vreo 20 de ani era nevoie ... ACUM de fapt nu mai e asa multa ... detalii
oprire pe salariu garanti bank
mi sa virat 2500de lei din care a fost oprit 850 de lei urmand sa mi se deblocheze restul sumei ... detalii
Amânare rate
Buna ziua, Am rămas în urma cu ratele , va rog frumos sa ma ajutați cumva , soțul a pierdut ... detalii
Am depus bani și nu mi au intrat in cont
Sa se rezolve ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126