Regulatory Alerts2022-12-20
PSD-12 Determination of the Operational and Cybersecurity Standards within the National Payment System
The Bank of Namibia issued PSD-12 to mandate operational resilience and cybersecurity standards for all entities within the National Payment System, including Financial Market Infrastructures and Payment Service Providers. The regulation requires boards to establish comprehensive risk frameworks, implement strict vulnerability management protocols, and ensure critical systems can resume operations within two hours of a disruption. Compliance is enforced through mandatory reporting of cyber incidents, regular testing of recovery plans, and adherence to specific availability and data protection metrics.
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