EU Group Crafts Guidelines for Online Payments, 2-factor Authentication
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|An increasing amount of fraud has led the European Union's banking authority to craft a new set of guidelines for members to secure online payments with strong authentication tools. The European Banking Authority--an EU body that regulates and supervises the banking sector--issued the guidelines last week that push payment service providers to adopt two-factor authentication as a standard for verifying the identity and intentions on all customers in online transactions.
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