FCMC gives a warning notice to AS “SEB banka” for delay in implementing strong customer authentication provisions

  • Section:

Riga, 19 May 2017 

Press Release 

FCMC gives a warning notice to AS “SEB banka” for delay in implementing strong customer authentication provisions 

The Financial and Capital Market Commission (hereinafter – FCMC) and AS “SEB banka” have entered into an administrative agreement under which the FCMC and AS “SEB banka” have agreed on further action plan for the bank to ensure compliance of limits for payments via internet banking using code cards with the new laws and regulations for strong customer authentication. 

FCMC has given AS “SEB banka” warning because the bank has not fully complied with the regulatory information systems security provisions applicable to the financial and capital market participants. The bank has not ensured the limits imposed on using the ordinary internet banking authentication tool – a code card – within the set time limit (1 April 2017).

At the beginning of this year, AS “SEB banka” introduced a new IT and customer service framework that required involvement of all resources and customer communication, consequently, the implementation of the requirements of the Regulations on Information Security Systems of Financial and Capital Market Participants was not duly ensured.

FCMC is of the opinion that above infringement of regulations is regarded as not a high-risk violation, and the bank took measures to shorten a non-compliance period.   

Besides, FCMC and AS “SEB banka” have come to settlement regarding termination of administrative case. 


Further information:

Agnese Līcīte

Public Relations Specialist 

Communications Division 

Financial and Capital Market Commission 

Phone: +371 67774808, +371 29467009

Email: Agnese.Licite@fktk.lv 


www.fktk.lv, Twitter.com/FKTK_LV



Kungu iela 1, Riga, LV-1050
6 7774800
Previous sign-in to the secretary:
67 774 801
Data protection:

Follow the news

Subscribe to the news and receive important industry-related information in your e-mail