Welcome » IT Booklets » E-Banking » Risk Management of E-Banking Activities » Legal and Compliance Issues
Because e-banking limits face-to-face interaction and the paper-based exchange of information with customers, e-banking introduces new compliance or legal risks. Institutions should:
Financial institutions should comply with all legal requirements relating to e-banking, including the responsibility to provide their e-banking customers with appropriate disclosures and to protect customer data. Failure to comply with these responsibilities could result in significant compliance, legal, or reputation risk for the financial institution.