https://www.taxtmi.com/news?id=27410 Regulation requires robust controls for electronic payments, including multi-factor authentication, security measures for internet and mobile banking, ongoing risk assessments for digital payment products, and transaction monitoring with customer alerts. Digital lending rules require a pre-contract Key Fact Statement disclosing the cost of credit, recovery and grievance mechanisms and bar undisclosed fees. Consumer protection provides for zero liability where losses arise from bank or third-party negligence and limits customer liability for losses due to customer negligence up to reporting. Supervisory oversight and national cybercrime coordination reinforce these protections. en-us Thu, 21 Mar 2024 15:55:37 +0530 Thu, 21 Mar 2024 15:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27410 Regulation requires robust controls for electronic payments, including multi-factor authentication, security measures for internet and mobile banking, ongoing risk assessments for digital payment products, and transaction monitoring with customer alerts. Digital lending rules require a pre-contract Key Fact Statement disclosing the cost of credit, recovery and grievance mechanisms and bar undisclosed fees. Consumer protection provides for zero liability where losses arise from bank or third-party negligence and limits customer liability for losses due to customer negligence up to reporting. Supervisory oversight and national cybercrime coordination reinforce these protections. News - Thu, 21 Mar 2024 15:55:37 +0530 https://www.taxtmi.com/news?id=27410