Regulatory Alerts2024-06-14 | DOF 5730493Added · Updated
Resolution modifying the General Provisions applicable to Credit Institutions
The National Banking and Securities Commission modifies general provisions for credit institutions to strengthen internal control regarding fraud prevention. The resolution defines 'Observable Conducts for Fraud Management' and mandates that institutions implement a Fraud Prevention Management Plan, including specific lineaments, risk assessment, and audit requirements. It introduces the concept of 'User Transaction Amount' to enhance security in electronic banking operations, requiring additional authentication factors for transactions exceeding this threshold or when modifications are made remotely. Furthermore, it establishes stricter reporting obligations for monetary complaints and requires institutions to assume risks and costs for unrecognized operations under specific contractual conditions.
More like this from SHCP
SHCP published 14 documents in the last 30 days. We email you each new one the day it's published.