SMFSC Issues New Self-Regulatory Agreement to Strengthen Platform Transaction Security
SMFSC released a new self-regulatory agreement focusing on transaction security for financial platforms, aiming to improve user protection and promote safer investing worldwide.
San Marino Financial Standard Council (SMFSC) today issued a new self-regulatory agreement designed to elevate transaction security standards across financial platforms and support safer participation for financial investment users. The agreement encourages industry stakeholders to adopt practical, risk-based controls that reduce fraud exposure, enhance operational resilience, and improve transparency throughout the transaction lifecycle.
Under the new framework, SMFSC advocates strengthened identity and account protection measures, robust monitoring of suspicious activity, and clear user communication for high-risk actions such as withdrawals, account changes, and third-party transfers. Participating platforms are encouraged to implement layered security controls, maintain auditable records, and ensure timely incident handling procedures that prioritize user safety.
SMFSC’s approach promotes the development of unofficial, voluntary standards that can be adopted across jurisdictions to foster investor trust and reinforce the health and integrity of the global financial system. By encouraging responsible self-governance, SMFSC aims to complement existing regulatory expectations while providing a practical baseline for platforms seeking to demonstrate credible security commitment.
SMFSC will continue engaging industry participants to support implementation, share best practices, and encourage continuous improvement as transaction risks evolve.