Digital payments are growing at an estimated 12.7% annually, and are forecast to reach 726 billion transactions annually by 2020. By 2022, an estimated 60% of world GDP will be digitalised. For the FATF, the growth in digital financial transactions requires a better understanding of how individuals are being identified and verified in the world of digital financial services. Digital identity (ID) technologies are evolving rapidly, giving rise to a variety of digital ID systems.

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The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.

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Directive (EU) 2016/680 (the Data Protection Law Enforcement Directive – LED) entered into force on 6 May 2016 and Member States had until 6 May 2018 to transpose it into national law. It repealed and replaced Council Framework Decision 2008/977/JHA but is a
much more comprehensive and general data protection instrument. Importantly, it applies to both the domestic and the cross-border processing of personal data by competent authorities for the purposes of preventing, investigating, detecting or prosecuting criminal offences and executing criminal penalties, including safeguarding against and preventing threats to public security (Article 1(1)).

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As COVID-19 continued to spread, Governments announced lockdowns in response, and companies had to allow employees to work from home. As there was a drastic increase in workforces joining company networks from home, attackers likely ramped up their efforts to take advantage of the inadequate or loose security posture of the WFH environment. The rush to move to work from home environment left security loopholes and made businesses vulnerable. Employees using home network and public internet services to access their official resources added another set of security challenge.

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The Competition Commission of India (CCI) is entrusted with the responsibility of preserving and enhancing competition, not just through enforcement, but also through advocacy. Section 49 of the Competition Act, 2002 states that CCI “shall take suitable measures for the promotion of competition advocacy, creating awareness and imparting training about competition issues”.

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