Regulatory Alerts2019-06-24
Central Bank of The Bahamas Guidelines for Electronic Banking
The Central Bank of The Bahamas issued these electronic banking guidelines to establish a risk-based supervisory framework for all licensed financial institutions. The document mandates that licensees implement comprehensive risk management controls covering strategic, operational, technological, and legal exposures while ensuring robust board oversight, secure authentication, and clearly defined customer terms. Furthermore, institutions must notify the regulator before launching new e-banking services, maintain continuous business continuity and outsourcing controls, and proactively educate customers on security precautions.
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