Guides the risk management of e-banking: the types of e-banking and the applicable principles; the major risks (operational, reputation and legal, and those of the underlying services); risk governance (board and senior management oversight, accountability and competence across the three lines of defence, independent assessment and penetration tests); customer security (authentication, notifications, awareness and education, customer protection); system and network security for internet banking (confidentiality and integrity, internet infrastructure, application security, threat monitoring and vulnerability assessment); controls over services offered (funds transfers, online submission of information, account aggregation, other online services); security controls for specific channels (mobile devices, social media platforms and portals, self-service terminals, phone banking, contactless mobile payments, payment card transactions); and fraud and incident management. Classification: a statutory guideline issued by the Monetary Authority under the Banking Ordinance §7(3); version V.4, 25.10.24; applies to all AIs offering e-banking.
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