Regulatory Alerts2005-03-30 | 28/2005Regulation 28/2005 on Supervision of Electronic Banking Transactions
The Bank of Albania’s Supervisory Council issued this regulation to establish comprehensive organizational, technical, and risk management requirements for all domestic and foreign banks conducting electronic banking transactions. It mandates pre-operational verifications, ongoing supervisory assessments, and robust security frameworks covering client identity verification, data integrity, system access controls, and business continuity planning. The regulation further grants the central bank suspension powers over non-compliant services, outlines clear penalties for infringements, and sets a six-month transitional period for existing e-banking providers to align with the new standards.
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