Regulatory Alerts2020-01-01
Decision on Ensuring Strong Customer Authentication and Common and Secure Open Standards for Communication
The Central Bank of Montenegro issued this Decision to prescribe security requirements for payment service providers regarding strong customer authentication and secure communication standards. The regulation mandates transaction monitoring mechanisms, independent security audits, and specific technical measures for authentication codes and dynamic linking to prevent fraud. It also outlines detailed exemptions from strong customer authentication for low-value transactions, contactless payments, trusted beneficiaries, and transaction risk analysis.
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