From 20-21 May 2025, the CNPD participated in the FSB forum on cross-border payments in Basel.
Discussing data transfers in the abstract is not enough. The international digital policy community is increasingly called upon to confront the very concrete challenges posed by the practical implementation of different frameworks in complex cross-border contexts that require the protection not only of privacy but also of other public interests stemming from other texts and policies.
The field of cross-border payments is symptomatic of this need for priority cooperation in data flows, failing which the resulting regulatory complexity and uncertainty will be as radical as an outright transfer ban, or lead to fail to protect the public interests at play. These are, on the one hand, the facilitation and reliability of cross-border payments for growth and economic well-being promoted by the G20 Roadmap on Cross-border Payments, financial inclusion, but also the increased fight against money laundering and terrorist financing, and of course, the protection of personal data and privacy.
Evita Katsimani represented the CNPD surrounded by other data protection authorities and a range of public and private stakeholders including the organisers: OECD - OCDE, Financial Action Task Force (FATF) and Financial Stability Board (FSB).
The creation of the forum allows all relevant public and private stakeholders to come together to better understand their respective missions, demystify and articulate their legal frameworks, namely:
- Data protection authorities
- Payments authorities
- Anti-money laundering (AML) authorities
- A private sector Advisory Group
This is a key milestone following the FSB’s December 2024 recommendations, aiming to facilitate discussions on how to mitigate data-related frictions to cross-border payments while protecting the privacy of individuals, preserving AML/CFT and sanctions objectives, and preventing fraud.