Consultations are nearing the end on the proposed Regulatory Technical Standards (RTS) for strong customer authentication announced by the European Banking Authority pursuant to the revised Payment Services Directive (2015/2366, known as PSD2). This proposal was much awaited by the entire financial technology industry. The standards could have a huge impact on business models and tech solutions applied on the FinTech market.
Recent terrorist attacks have revealed the dark side of new information technologies. Organizers of attacks, or fighters for the “Islamic State,” have ruthlessly exploited the latest communications technologies. For example, according to media reports, terrorists have arranged attacks via PlayStation tools or encrypted instant messaging services. Polish lawmakers decided to respond to this phenomenon by passing the Anti-Terrorism Act of 10 June 2016.
Under Poland’s Criminal Procedure Code, the holder of IT data is required to turn over the data, e.g. concerning the user of a device, at the demand of the competent authorities. But does this apply only to unencrypted data, or also to encrypted data, which to understand would require the holder to decode its own software? Let’s crack this conundrum using the example of the recently publicised American case of Apple Inc.
Operators of crowdfunding platforms should carefully follow the work on the Network and Information Security Directive. The last draft of the proposal suggests that crowdfunding platforms could be covered by the directive.
In the last couple of years we have seen in our legal practice a great increase in the number of cases related to cybercrime (an issue we discussed in the firm Yearbook, at pp. 7–9). Many cases involve attacks on Internet bank accounts from which criminals steal money, mainly using “phishing” methods, sometimes cleaning out customers’ life savings.
Work on the new Trade Secrets Directive is approaching the end. One of the most controversial provisions of the proposal concerns information obtained through reverse engineering—examining a product to determine how it was made and how it works.