
Why global harmonisation of cybersecurity would be music to everyone's ears
The three major areas that would benefit from industry-wide harmonization of cybersecurity regulations are data protection, interoperability and cost.
Western Union is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, it provides consumers and businesses with fast, reliable and convenient ways to send and receive money, send payments and purchase money orders, through over 500,000 agent locations and over 100,000 ATMs and kiosks. In 2015, it completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments.
The three major areas that would benefit from industry-wide harmonization of cybersecurity regulations are data protection, interoperability and cost.
The magnitude, reliability, and cascading effect of remittances make them a crucial building block in developing economies' efforts to return to normality.