Finland: Strong customer authentication in online card payments deferred
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Finland Financial Supervisory Authority (FIN-FSA) has indicated that it will, on a temporary basis, not impose administrative sanctions on supervised entities for not implementing strong controls to authenticate customers with regard to their online card payments.
According to FIN-FSA, the temporary exemption is to ensure seamless continuity of online card payments and to avoid unreasonable inconvenience to consumers.
FIN-FSA has indicated it will decide on the length of the transitional period after consulting with the European Banking Authority and the supervisors of other member states on the issue.