Regulatory Alerts2011-12-01
Uniform Law on the Repression of Offences Concerning Cheques, Bank Cards and Other Electronic Payment Instruments and Procedures
The Council of Ministers of the West African Monetary Union (UMOA) has adopted this Uniform Law to strengthen and harmonize the penal sanctions for offenses involving cheques, bank cards, and other electronic payment instruments across Member States. The legislation replaces the previous penalty-by-reference system with fixed imprisonment terms and specific fines, while introducing new criminal offenses for counterfeiting, falsification, fraud, and unauthorized use of electronic payment data. It centralizes enforcement mechanisms, clarifies confidentiality protections for centralized banking information, and establishes clear prohibitions on cheque issuance to deter intentional payment defaults.
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