🧐 Belarus🥔: Banks Begin Collecting Customers' Geolocation Data from July 1

🧐 Belarus🥔: Banks Begin Collecting Customers' Geolocation Data from July 1

New financial services and financial technology standards have entered into force. From a customer's first login to digital banking services, banks are required to create and store a reference device fingerprint.

🌐 Anti-fraud measures:

😬Banks must implement an anti-fraud system capable of collecting information about a customer's device—including its model, software version, and browser configuration—as well as the customer's geolocation.

😬The requirement applies to all banks and credit institutions operating in the country.

😬According to the authorities, these measures are intended to prevent unauthorized payment transactions resulting from stolen credentials or manipulated geolocation data. Access will remain blocked until the customer confirms the transaction.

🌐 Mandatory customer consent: The new requirements are implemented under a framework of mandatory customer consent.

🌐 Operational considerations:

😬Although the system evaluates multiple factors, the use of a new mobile device may trigger additional verification procedures or temporary blocking.

😬However, customers may have multiple reference digital fingerprints linked to their accounts.

😬Will customers still be able to use internet or mobile banking abroad🟣 Yes. However, if such activity has not previously occurred, the bank will conduct additional checks.

🌐 Data protection: all device fingerprint data will be stored in encrypted form, will not be transferred to third parties and will be used exclusively by the anti-fraud system for access to mobile banking services.

#news #scam

🌎 payplanet.com verified partner for LatAm, India🇮🇳 Turkey🇹🇷 @pay_planets