Ecuador SEPS mandates panic button, fraud alerts for cooperative banking apps

Ecuador's Superintendency of Popular and Solidarity Economy (SEPS) issued new cybersecurity requirements for cooperatives and mutuals, mandating panic buttons, fraud alerts, and 24-hour support across mobile apps, ATMs, and cards. This marks a regulatory tightening for the sector, likely raising compliance costs but improving consumer protection. The move signals a regional trend toward stricter digital financial security standards.

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