Poland: Adopted UOKiK recommendations to mitigate fraudulent transactions in payment services

On 23 October 2024, the Office of Competition and Consumer Protection (UOKiK) adopted recommendations to mitigate fraudulent transactions in payment services. The recommendations apply to providers of payment services, focusing on enhancing security measures to protect consumers' funds and personal data. The recommendations impose several obligations, including implementing transaction monitoring systems and establishing cooling-off periods. It also recommends introducing strong customer authentication for online transactions and enhanced customer communication protocols. The recommendations aim to create a systematic approach to mitigating risks associated with online payment transactions, ensuring a safer digital financial environment.