{"id":"circulars/cssf-19-712","title":"Circular CSSF 19/712","type":"circular","date":"2019-03-14","kind":"circular","html":"

Circular CSSF 19/712 is a CSSF circular, published 14 March 2019. Subject: Guidelines of the European Banking Authority on reporting requirements for fraud data under Article 96(6) of the Directive (EU) 2015/2366 (PSD2) (EBA/GL/2018/05).

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Legal basis: Law of 10 November 2009 on payment services and electronic money.

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Relevant for: Credit institutions, Payment institutions/electronic money institutions/AISPs.

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Keywords: Payment Service Provider (PSP).

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Text

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Luxembourg, 14 March 2019

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To all payment services providers

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Re: Guidelines of the European Banking Authority on reporting requirements for fraud data under Article 96(6) of the Directive (EU) 2015/2366 (PSD2) (EBA/GL/2018/05) Ladies and Gentlemen, The purpose of this circular is to draw your attention to the Guidelines of the European Banking Authority (“EBA”) on reporting requirements for fraud data under Article 96(6) of the Directive (EU) 2015/2366 (“PSD2”) 1 - EBA/GL/2018/05 (the “Guidelines”) with which the CSSF commits to comply in its capacity as competent authority. The Guidelines provide details with regard to the reporting obligations of fraud data as provided by Article 105-2(3) of the law of 10 November 2009 on payment services, as amended 2 (the “Law”). 1. The Guidelines The Guidelines provide details on statistical data on fraud related to different means of payment that payment service providers (as defined here under) have to report to their competent authorities as well as on the aggregated data that the competent authorities have to share with the EBA and the European Central Bank, in accordance with Article 96(6) of the PSD2. The Guidelines define the types of payment transactions and the fraudulent payment transactions to be reported as well as the reporting frequency, the reporting timelines and the reporting periods. 2. Scope The present circular is addressed to the payment service providers as defined in Article 1(37) of the Law, for which the CSSF is the designated competent authority for supervisory purposes (“PSPs”), except account information service providers as defined in Article 1(37d) of the Law.

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Directive (EU) 2015/2366 of the Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC 2 Law of 10 November 2009 on payment services, on the activity of electronic money institution and settlement finality in payment and securities settlement systems 1

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  1. Reporting period, deadlines and technical details A PSP must report data every six months according to the applicable data breakdown(s) set out in Annex 2 to the Guidelines. The detailed technical instructions for sending the fraud reporting data as provided by Article 105-2(3) of the Law will be published separately on the CSSF website at a later stage. The data reported shall be submitted to the CSSF within 3 months after the end of the reporting period. The two half-yearly reporting periods are 1 January - 30 June and 1 July - 31 December respectively. The first reporting will be due by 30 September 2020. The fraud reporting is to be provided even if no fraud occurred during the reporting period. 4. Adjustments to past reported data The PSPs should report all adjustments to the data referring to any past reporting period during the next reporting window after the information necessitating the adjustments is discovered, by submitting the respective revised reporting tables and indicating the past reporting period they refer to according to the detailed technical instructions mentioned in section 3. 5. Date of application The present circular shall apply as of 1 January 2020.
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The text above is the opening of the document; the PDF carries the whole.

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Document page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.

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