European Central Bank Releases ePayments Security Recommendations

By PYMNTS | February 1, 2013

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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