Wire fraud is a federal offense under U.S. law and refers to fraud committed using electronic communications, such as telephone or computer. Unfortunately for financial institutions, wire fraud is on the increase, and not just in the U.S.
The Gramm-Leach-Bliley Act (GLBA) has been around since 1999, but it doesn't just affect financial services, it also requires higher education to comply.
The EU’s PSD2 directive (a revised payment service directive) aims to regulate electronic payments in EU member countries. It has no impact on traditional paper-based transactions.