August 02, 2017

EBA launched a consultation on the draft guidelines on reporting requirements on statistical data on fraud under the revised Payment Services Directive (PSD2). The guidelines define the meaning of “fraudulent payment transactions” for the purpose of the data reporting (under these particular guidelines). They also include periodic reporting requirements on payment transactions and fraudulent payment transactions and set out the methodology for collating and reporting data, including data breakdown, reporting periods, frequency, and reporting deadlines. The consultation runs until November 03, 2017.

The first part of the guidelines sets out requirements applicable to all payment service providers, except account information service providers. The second part introduces requirements that are applicable to all competent authorities in the EU. Payment service providers are expected to provide high-level data on a quarterly basis and more detailed data on a yearly basis. The guidelines, which are in accordance with Article 96(6) of Directive 2014/65/EU (PSD2), were developed in close cooperation with ECB to ensure that the high-level fraud reporting requirements are implemented consistently among member states and that the aggregated data provided by competent authorities to EBA and ECB are comparable and reliable. The guidelines aim to contribute to the objective of PSD2 to increase the security of retail payments in the EU.


Related Links

Consultation Paper (PDF)

PSD2 Related Standards and Guidelines

Comment Due Date: November 03, 2017

Keywords: Europe, EU, PSD2, Reporting Requirements, EBA, Banking, Payments and Markets Infrastructure

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