Regulatory Alerts2024-08-07 | 43/2024Regulation 43/2024 on Information Accompanying Transfers of Funds
The Bank of Albania’s Supervisory Council issued Regulation 43/2024 to mandate that Albanian payment service providers attach specific payer and payee details—including names, account numbers or unique identifiers, and legal entity codes—to all fund transfers. The regulation applies to euro-denominated SEPA transfers, domestic transactions, and cross-border payments involving licensed Albanian institutions, requiring PSPs to verify information accuracy based on transaction values and money laundering risks. Receiving and intermediary PSPs must implement risk-based procedures to detect missing data, request or reject non-compliant transfers, and report rejected transactions to the Financial Intelligence Agency.
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