The Financial Conduct authority has announced it is giving businesses an additional six months to implement strong customer authentication (SCA) for e-commerce, in light of the “exceptional circumstances” caused by the Covid crisis.
The regulator said firms are “required to take all necessary steps to comply with the revised detailed phased implementation plan and critical path to avoid the risk of enforcement action”.
It also expects UK Finance to discuss the detailed phased implementation plan and critical path with all stakeholders and agree it with the FCA as soon as possible.
The FCA said in a statement: “In the meantime, firms should continue with the necessary preparatory activities such as robust end-to-end testing.
“After 14 September 2021, any firm that fails to comply with the requirements for SCA will be subject to full FCA supervisory and enforcement action.”