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OM-3.1.2

Past version: Effective from 01 Jan 2020 to 31 Dec 2019
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The Board of Directors, or a designated Board Committee and senior management must establish effective management oversight over the risks associated with activities involving e-banking and electronic funds transfer. The licensee must establish policies and procedures to manage these risks which include but are not be limited to the following:

(a) The development and/or acquisition of the technology solutions;
(b) Testing of application program interfaces;
(c) Standards of communication and access and security of communication sessions, such as PCI-DSS compliance for cards;
(d) Authentication of the users;
(e) Processes and measures that protect customer data confidentiality consistent with Law No. 30 of 2018, Personal Data Protection Law (PDPL) issued on 12 July 2018;
(f) Tools and measures to prevent frauds and errors; and
(g) Security policy and risk management controls.
Added: January 2020