Phishing attacks and attempted scams are among the largest threats for the security of Austrian payments business. The methods used are also becoming increasingly technologically sophisticated, and institutions are facing new challenges. Combating of fraud is only possible thanks to intelligent modern automation-based methods and real-time risk-based analysis. Regarding the new legal requirements, it is essential from the FMA’s perspective that banks identify and remedy their vulnerabilities in this area.
Reden wir über Aufsicht - Betrug im Zahlungsverkehr (Format: pdf, Size: 223,2 KB, Language: German)
Further information about Conduct and IT Risk Supervision of Banks can be found on the FMA Website here.
A new information series for supervised entities
Let’s talk about supervision – is the FMA’s new regular information series for supervised entities. This format is intended for covering new areas of supervision as well as thematic areas where a need for explanation has been detected in the market. Relevant thematically-specific information is intended to be communicated in a quick and easy to understand manner, to create greater clarity as well as contributing towards ensuring that supervisory standards are observed. All editions published to date may be found here (in German only).