Regulatory Alerts2020-09-02 | 156/04Rule on Strong Customer Authentication
The National Bank of Georgia issued Order No. 156/04 approving the Rule on Strong Customer Authentication to mandate secure verification for payment service users. The regulation requires providers to implement authentication based on at least two independent elements of knowledge, possession, or inherence, alongside dynamic linking and strict security measures. It also defines specific exemptions for low-risk transactions, such as contactless payments under 150 GEL, and establishes annual audit obligations for compliance.
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