Current Affairs · Banking Regulations and Payment Systems

Evaluate the following operational mechanisms and conditions related to the Additional Factor of Authentication (AFA) mandate for cross-border Card Not Present (CNP) transactions: I. The card issuer must register its Bank Identification Numbers (BINs) with card networks to facilitate AFA validation. II. For non-recurring cross-border CNP transactions, the issuer is required to validate the AFA when requested by the overseas merchant or overseas acquirer. III. The issuer is mandated to implement a risk-based mechanism exclusively for managing non-recurring cross-border card transactions. IV. The regulatory directions mandate compliance strictly within six months from the date of the circular. Which of the above statements accurately reflect the mandatory implementation mechanisms?