F8.6 Empower regulators with independent oversight

Principle

F8 Ensure effective remedy and redress

Risk

SV2 Weak rule of law

Life Cycle Stage

L5 - Operations and Maintenance

Practices

• Identify independent bodies and entrust them with oversight for the ecosystem. In the event of a data breach, disclose information to all users and make recourse available to those affected.

• Develop transparency regulations that disclose complete information in a simple and easy-to-understand manner.

Resources

References

UN Principles for Responsible Digital Payment