Regulatory Alerts2024-01-11
Regulation on Strong Customer Authentication and Secure Communication Standards for Payment Service Providers (No 12 of 11.01.2024)
The Executive Board of the National Bank of Moldova issued Decision No 12 on January 11, 2024, to approve a regulation mandating strong customer authentication and standardized technical protocols for payment service providers. The rule requires financial institutions to implement robust verification mechanisms for digital transactions while adopting a unified communication framework that guarantees data security and system interoperability. These standardized requirements directly reduce payment fraud, streamline cross-institutional data exchange, and align Moldova's domestic payment infrastructure with broader European regulatory expectations.
Share