Regulatory Alerts2020-01-01
Decision Amending the Decision on Ensuring Strong Customer Authentication and Common and Secure Open Standards for Communication
The Council of the Central Bank of Montenegro amended its regulations on strong customer authentication to extend the transaction history exemption period from 90 to 180 days and clarify access conditions. The amendment introduces a new article allowing payment service providers to exempt account information service providers from strong customer authentication for balance and transaction data access, subject to specific time limits and fraud safeguards. Additionally, the decision mandates that account servicing providers notify other providers of interface technical changes at least two months before implementation to ensure compliance with the new standards.
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