SpainReal Decreto-ley 19/2018 on Payment Services, Major Incident Notification to the Banco de España and to Users
Real Decreto-ley 19/2018, art. 67, servicios de pago
In force since .
A vulnerability and incident reporting rule binding private bodies.
- Obligation class
- Security, Governance
What it requires
- If you are a payment service provider (such as a credit institution, an e-money institution, a payment institution or the postal operator for its payment services), this binds you (Article 67).
- Notify the Banco de España immediately, in the form it determines, of every major operational or security incident (Article 67.1).
- If a security incident affects or may affect the financial interests of your payment service users, tell them without undue delay about the incident and about all the mitigation measures they can take (Article 67.1).
- At least annually, in the form the Banco de España sets, give it statistical data on fraud relating to the different means of payment (Article 67.4).
These lines are LexLint's reading of the law's text.
What this law does
Article 67.1 requires payment service providers to notify the Banco de España immediately, in the form it determines, of major operational or security incidents. Where a security incident affects or may affect the financial interests of the users of its payment services, the provider must inform them without undue delay of the incident and of all the mitigation measures they can take.
Article 67.4 requires payment service providers to give the Banco de España, in the form and at the intervals it determines and at least annually, statistical data on fraud relating to different means of payment. Payment service providers and their directors and managers are subject to the sanctions regime of Title IV of Ley 10/2014 and to Real Decreto 2119/1993. Titles II and III of the Real Decreto-ley apply three months after its publication in the Boletín Oficial del Estado.
When LexLint raises it
When your app profile says your app is a payment provider or is a bank.
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