EU FORCING BANKS TO UP THEIR GAME ON FRAUD PREVENTION
May 1st, 2017
European Union (EU) banks are to be forced to bring in fraud prevention measures to protect their customers under regulatory technical standards (RTS) due to come into force by early 2019.
These will say when banks have to undertake ‘strong customer authentication’ (SCA) where customer identities are checked using two or more elements, including something a client knows (like a password), they hold (such as a mobile phone and number) or is part of their body, such as a fingerprint.
The sector is closely watching the European Commission, the EU Council of ...
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