ECB consults on draft guide to on-site inspections and internal models investigations


EBA consults on fraud reporting requirements under PSD2

Are you ready to comply with EBA/ECB required statistical reporting?

Directive (EU) 2015/2366 on payment services in the internal market (PSD2) entered into force in the European Union on 12 January 2016 and will apply as of 13 January 2018.

One of the PSD2 requirements to all payment service providers relates to the reporting of fraud data on means of payment. More specifically, Article 96(6) PSD2 states that payment service providers (PSPs) shall provide “statistical data on fraud relating to different means of payment to their competent authorities”.

The same article states that the competent authorities shall, in turn, “provide EBA and the ECB with such data in an aggregated form”. In order to ensure that these high-level provisions are implemented consistently among Member States and that the aggregated data provided to the EBA and the ECB is comparable and reliable, the EBA, in close cooperation with the ECB, is proposing two sets of Guidelines on the reporting requirements of fraudulent payment transactions 

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