LiberiaCentral Bank of Liberia Regulations Concerning Licensing and Operations of Electronic Payment (E-Payment) Services: Reporting of Security Violations
In force since .
A vulnerability and incident reporting rule binding private bodies.
- Enforcement body
- Central Bank of Liberia
- Obligation class
- Reporting, Security
As of .
What it requires
- This reaches you where you are a bank or non-bank financial institution, or another entity authorized by the Central Bank of Liberia, that provides electronic payment services, including by issuing e-payment products or schemes, or where you are a third-party e-payment service provider or operator (reg. 2.0) (reached by declaring that you are a bank or a payment provider).
- Report to the Central Bank of Liberia all computer accesses, including messages received, and all security violations, suspected or attempted, and take follow-up action promptly (reg. 9.1(d)).
These lines are LexLint's reading of the law's text, as of .
If you get it wrong
Penalty structure
The Central Bank of Liberia may impose monetary penalties of up to L$200,000.00 for a violation, alongside warning letters, directives to take corrective action, civil penalties, removal of staff, suspension of financial activities and license revocation.
- Rule
- Fixed only
- As of
- Currency
- LRD
- Fixed cap
- 200,000
What this law does
Regulation 9.1(d) requires all computer accesses, including messages received, and security violations, suspected or attempted, to be reported to the Central Bank of Liberia with follow-up action taken promptly.
When LexLint raises it
When your app profile says your app is a bank or is a payment provider.