European Central Bank Releases ePayments Security Recommendations

The European Central Bank (ECB) has released a set of “Recommendations for the security of internet payments” in the interest of fighting online European payments fraud.

The recommendations take into account the opinions of 17 European Union countries and authorities from the European Economic Area, and represent a “voluntary cooperative initiative,” according to an ECB press release.

Some of the recommendations include limiting the number of login or authentication attempts, establishing transaction monitoring mechanisms and adding multiple layers of security defenses.

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