Regulation and compliance to become business critical in 2020

Industry News | 22/01/20

In 2020, businesses can expect a range of regulations to be enforced, including the delayed Strong Customer Authentication (SCA) requirement of the Second Payment Services Directive (PSD2). This requires financial service providers to provide two layers of authentication on high value purchases over £28 – aiming to improve the security of online transactions and reduce fraud.

Many game-changing regulations have come into force in the past two years. In the age of GDPR, businesses face significant ramifications for non-compliance such as financial penalties and reputational risk. This year presents an opportunity for firms to prioritise a proactive risk and compliance policy in order to succeed.

Source: PR Newswire