Page 113 - FerMUN 2020 - Futurecasters Global Young Visionaries Summit, 8th-10th January 2020

b. A financial regulation system which would:
i. Guarantee upstream market access to operators with the financial and
technical capacity to offer consumers products that meet their

demands and needs,
ii. Monitor and ensure that the consumer is protected in terms of prices,
competition, and reliable and relevant information,

iii. Monitor means of payment by setting up security standards, anti-fraud
standards, customer reimbursement and dispute management,
iv. Facilitate the establishment of an integrated ecosystem favouring the

development of non-cash payment solutions and a wide network of
accepting agents distributed throughout the territory,
v. Foster innovation and the use of FinTech;

2. Calls on central banks to ensure the establishment of payment systems that allow
interoperable financial services to be offered, so that anyone can receive or send
money or pay regardless of the operator offering the service;

3. Strongly encourages the creation of start-ups offering alternative payment solutions
which ensure, in addition to fast and offshore payments, the security of customer data
and transactions;enhancing confidence between consumers and business through:

a. A triple identification: in addition to the password, the authentication system
sends the cardholders a verification/connection code by SMS and an
electronic signature will be required to validate the opening of the account,

b. Severe state sanctions against hackers, such as fines, prohibitions, and/or prison
sentences;

4. Wishes to democratise access to the Internet by:
a. Implementing a tax policy favourable to investment in the Internet sector,
where banks will be encouraged to invest between 3 and 5% of their turnover,

which can then be deducted from their taxes,
b. Strengthening financial infrastructure in order to develop transparency of
information, this will be achieved by putting associations or institutions, with a
good knowledge of small entrepreneurs but weak financing capacities, in

contact with banks, which have significant resources but little visibility and
therefore expertise in these segments of economic operations;

5. Calls for the establishment of a cyber security committee within the United Nations with
technical expertise in the field in order to ensure the security of financial services and
to provide neutral and transparent advice to states and technical assistance, by

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