Annual Report - paperJam

e-Invoicing
After the publication of the report of the
e-invoicing expert group and the closing of the
public consultation, the ABBL set up a specific
working group, which began work in 2010 on
elaborating an e-invoicing framework, allowing
banks to define their position in this new domain.
At the end of 2010, the European Commission
issued a communication and decision, which
should push the development and uptake of
e-invoicing throughout the European economy,
in particular by small and medium-sized companies
and their corporate and private customers.
The ABBL started to closely monitor the
establishment of the future Luxembourg Multi
Stakeholder Forum on e-invoicing, as requested
by the European Commission. It is commonly
agreed that banks should be involved in this forum
in order to defend payment activities and combat
disintermediation.
Security of Payment Systems and Payment
Instruments
On the basis of the law of 11 November 2009
on payment services, which placed the security
of payment systems and instruments under the
supervision of the Luxembourg Central Bank,
the ABBL decided in 2010 to extend the mission
of its existing working group dealing with web
banking security issues only in order to cover
the new dimensions targeted by the law. The
extended mission also covers the handling of
ATM related fraud.
The Security of Payment Systems and Payment
Instruments working group continued to liaise
with CASES, the Luxembourg judicial police
and the Luxembourg intelligence service.
As it had done in 2008 and 2009, the ABBL
supported the hack.lu 2010 conference as a
sponsor. Over the last years, the hack.lu event
has become one of the most important worldwide
yearly gatherings of ICT security specialists
seeking solutions to fight cybercrime and
to make the usage of Internet channels safe
for customers as well as banks.
ICT
Information and communications technology
(ICT) is a corner stone of the banking business.
In 2010, the ABBL was thus monitoring several
issues of high relevance to its members. These
issues were discussed and outlined during a first
Financial ICT Forum (FIFo) workshop, bringing
together interested members.
The aim of the FIFo workshops is to allow the
ABBL to answer strategic questions raised by
ministries and other public authorities keen to
know the banks’ position and requirements.
26 May 2010
EU Commission proposes that the EU establishes
an EU network of national bank resolution funds to ensure
that future bank failures aren’t at the cost of the taxpayer.
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