Regulatory Alerts2017-07-01
Circular to Support Efforts to Encourage Increased Adoption of Electronic Means of Payment
The Reserve Bank of Zimbabwe issued this circular to reinforce operational guidance for financial institutions and payment system providers on enhancing security controls against rising electronic payment fraud. Institutions must continuously educate consumers, monitor evolving fraud tactics, and implement targeted risk reduction strategies across all transaction channels. These requirements include providing safety tips for point-of-sale and electronic products, ensuring secure retail environments, and mandating prompt customer notification alongside immediate card blocking via mobile or internet platforms.
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