Article 11 — Detection of missing information on the payer or the payee

Financial crimeLevel 1RegulationToFRApplies from 30 Dec 2024VerifiedOfficial source

1.The intermediary payment service provider shall implement effective procedures to detect whether the fields relating to the information on the payer and the payee in the messaging or payment and settlement system used to effect the transfer of funds have been filled in using characters or inputs admissible in accordance with the conventions of that system.

Copy link

11(2)

2.The intermediary payment service provider shall implement effective procedures, including, where appropriate, monitoring after or during the transfers, in order to detect whether the following information on the payer or the payee is missing:

Copy link

11(2)(a)

(a)for transfers of funds where the payment service providers of the payer and the payee are established in the Union, the information referred to in Article 5;

Copy link

11(2)(b)

(b)for transfers of funds where the payment service provider of the payer or of the payee is established outside the Union, the information referred to in Article 4(1), points (a), (b) and (c), and Article 4(2), points (a) and (b);

Copy link

11(2)(c)

(c)for batch file transfers where the payment service provider of the payer or of the payee is established outside the Union, the information referred to in Article 4(1), points (a), (b) and (c), and Article 4(2), points (a) and (b), in respect of that batch file transfer.

Copy link