02/06/2026
The Anti-Financial Account Scamming Act (AFASA) will require financial institutions (FIs) offering complex electronic products and services to provide stronger anti-fraud tools for consumers by end of June 2026.
These include a “kill switch,” which allows customers to quickly suspend their account when fraud is suspected, and a “money lock,” which allows customers to secure funds that cannot be transferred digitally even if the account is compromised.