\tNew EU rules to tackle non-cash payment crimes were approved by the European Council and will become law, with member states given two years to bring national regulations into line.<\/p>\n
The rules require EU states to recognise, investigate and punish a range of specific offences related to scams and fraud of non-cash payment systems including mobile payments.<\/p>\n
They also sets out minimum jail terms for some crimes, including falsifying transactions and the use of hacked payment accounts.<\/p>\n
In a statement, the EU Council said the new rules remove obstacles to investigation and prosecution in addition to providing guidelines on measures to improve public awareness.<\/p>\n
The rules cover consistent criminal sentencing across countries within the economic bloc; clarified jurisdiction descriptions to aid in cross-border crimes; citizen awareness and support programmes; and clearer definitions for some offences.<\/p>\n
In a statement, the Council said the directive aims to be \u201ctechnology-neutral” and cover “traditional non-cash payments such as bank cards or cheques” along with new payment methods including “electronic wallets, mobile payments and virtual currencies\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
New EU rules to tackle non-cash payment crimes were approved by the European Council and …<\/p>\n
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