Promoting strong consumer protection mechanisms  1/4  BIS - Central bankers' speeches  In the aspect of consumer protection and fraud, fortunately, we were finally able to pass a law that requires every prepaid SIM [subscriber identity module] card to have a verified ID [identification]. By the way, I tried it myself.
In essence, the Basel II framework seeks to limit banks’ risk-taking behaviour by making it more expensive and thus less attractive. Against this backdrop, recent proposals to prohibit certain risky activities altogether pursue a more radical course.