UK RETAILERS TOLD TO USE SCA ID CHECKS FOR ONLINE SALES
January 1st, 2022
British banking industry association UK Finance is warning retailers with an online presence that they need to ensure their websites support strong customer authentication (SCA) or risk seeing transactions declined when banks start to apply new rules from January 18. To prevent fraud, banking watchdog the UK Financial Conduct Authority (FCA), will require SCA, whereby customers buying goods online will be asked to verify their identity through their banking app or a one-time passcode via text or phone call, from March 14. The FCA granted banks a year’s delay ...
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