RECOMMENDATIONS FOR THE SECURITY OF INTERNET PAYMENTS
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The recommendations are based on four guiding principles. First, PSPs should perform specifi c assessments of the risks associated with providing internet payment services, which should be regularly updated in line with the evolution of internet security threats and fraud. Some risks in this area have been identifi ed in the past, for example by the Bank for International Settlements in 2003 6 or the Federal Financial Institutions Examination Council in 2005 and 2011.7 However, in view of the speed of technological advances and the introduction of new ways of effecting internet payments, along with the fact that fraudsters have become more organised and their attacks more sophisticated, a regular assessment of the relevant risks is...
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