EU Financial Authorities Push For Sharper Cybersecurity Rules

European authorities are seeking to patch the cybersecurity-shaped holes in existing payments legislation, pushing for the introduction of minimum standards around security and risk management as part of a broader long-term review of the fintech space.

The European supervisory authorities (ESAs) published two papers of joint advice on cybersecurity and IT risk management on Wednesday, part of their obligations under the European Commission’s Fintech Action Plan from March 2018.

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