Doubts Raised Over EU Payments Data Probe

European plans to apply extra rules around protecting payments data are being met with scepticism by legal experts, who point to a raft of existing data security requirements.

Officials at the European Banking Authority (EBA) launched a consultation last month into “innovative” uses of payments data, raising questions about the gathering and storing of such information.

However, lawyers that spoke to PaymentsCompliance raised a number of issues around existing requirements, with some questioning whether the payments industry would benefit from sector-specific rules.

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