Addressed to payment service providers and competent authorities, the guidelines were developed by EBA in close cooperation with the European Central Bank (ECB) and aim to contribute to the objective of PSD2 to increase the security of retail payments in the EU. The consultation runs until 03 November 2017.
At present, data on payment fraud in the EU is difficult to obtain, not reliable, and not comparable across Member States, according to an EBA statement. This does not allow capturing an accurate picture of payment fraud in the EU, including its size, components and development over time.
Thus, the Guidelines 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. Payment service providers are expected to provide high-level data on a quarterly basis and more detailed data on a yearly basis.
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