KenyaNational Payment System Regulations, Monthly Report of Service Interruptions and Security Breaches
National Payment System Regulations, 2014 (Legal Notice No. 109 of 2014), reg. 29(2)(c)
In force since .
A vulnerability and incident reporting rule binding private bodies.
- Instrument type
- a regulation made under an act
- Obligation class
- Reporting
As of .
What it requires
- This binds a payment service provider authorised by the Central Bank of Kenya under the National Payment System Act and these Regulations (reached by declaring that you are a payment provider).
- Within ten days of the end of every calendar month, submit to the Central Bank of Kenya, in the form set out in the Fifth Schedule, information regarding material service interruptions and major security breaches, together with the other matters regulation 29(2) lists (regulation 29(2)(c)).
These lines are LexLint's reading of the law's text, as of .
If you get it wrong
Penalty structure
Regulation 57's general monetary fine for failure to comply with the Regulations where no specific penalty is prescribed
- Rule
- Fixed only
- As of
- Currency
- KES
- Fixed cap
- 1,000,000
Who enforces it
Enforcement body
The Central Bank of Kenya, which exercises oversight and supervisory power over a payment service provider, its agents or cash merchants.
What this law does
Regulation 29(2)(c) requires a payment service provider to submit to the Bank, within ten days of the end of every calendar month, information regarding material service interruptions and major security breaches. In the Regulations, the Bank means the Central Bank of Kenya.
Regulation 57 allows the Bank, where no specific penalty is prescribed, to impose monetary fines not exceeding one million shillings on a payment service provider, a trustee, an agent or a cash merchant for failure to comply with the Regulations. Regulation 10(1)(e) allows the Bank to suspend or revoke a payment service provider's authorisation if the provider fails to comply with any condition of the authorisation or any applicable Law. The Regulations were published in the Kenya Gazette on and commenced on the same day.
When LexLint raises it
When your app profile says your app is a payment provider.