FinCoNet Report on Online and Mobile Payments: An Overview of Supervisory Practices to Mitigate Security Risks

Established in 2013, FinCoNet is a non-profit international organisation of supervisors and public entities with a financial market conduct and financial consumer protection supervision mandate. It was established in response to the growing focus in financial consumer protection worldwide, and the need for better coordination among supervisory bodies responsible for the oversight of the various national financial consumer protection regimes. The work of FinCoNet is currently focused on consumer credit and banking issues, aiming to strengthen consumer confidence while reducing systemic risk.

The analysis presented in this report is based on responses to the Questionnaire for conduct of business supervisors – Mitigating security risks.

The report aims to:

1. provide an analysis of the questionnaire responses regarding conduct of business supervisory initiatives to tackle the challenges identified in the 2016 Report, Online and mobile payments: supervisory challenges to mitigate security risks;
2. present the conduct of business supervisory practices or initiatives identified within each challenge that are being implemented across jurisdictions to mitigate security risks in the digital context; and
3. highlight specific lines of action being used to address the distinct features and risks of online and mobile payments.

FinCoNet Report on Online and Mobile Payments: An Overview of Supervisory Practices to Mitigate Security Risks (PDF)

Press Release (PDF)