Regulatory Alerts2019-03-14
Added · Updated
CSSF Circular 19/712 — EBA Guidelines on Fraud Data Reporting under PSD2 Article 96(6)
Payment service providers supervised by the CSSF must report statistical data on fraud every six months, with submissions due within three months after the end of each reporting period. The first report is due by 30 September 2020, covering the periods of 1 January to 30 June and 1 July to 31 December, and must be filed even if no fraud occurred. The circular applies as of 1 January 2020 and requires providers to report both unauthorized transactions and those resulting from payer manipulation, excluding prevented transactions.