ECB lays out e-money guidelines

ECB lays out e-money guidelines

The European Central Bank has set out revised guidelines covering the security objectives that should be met by electronic money schemes.

The 'Electronic Money System Security Objectives' (EMSSO) report, is a follow-up to the ECB's 1998 'Report on Electronic Money' which defined a common policy with regard to electronic money and established a set of general requirements that electronic money schemes should fulfil.

The ECB says that the security objectives set out in the EMSSO report will be used to assess the overall reliability and technical security of e-money schemes, and should increase public confidence in these systems.

The ECB is also keen to level the regulatory playing-field and facilitate interoperability between different schemes.

Read the full report: Electronic Money System Security Objectives

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