June 26, 2020

Fraud Reporting - EBA

Just a reminder that from 1 July 2020, under amended EBA guidelines on fraud reporting EBA/GL/2020/01, payment service providers in the UK and EU will have to specifically identify and collect data on transactions falling under the following categories of payments:

  • merchant initiated transactions; and
  • transactions where strong customer authentication (SCA) was not applied for a reason other than: (i) because an exemption was applied under the Regulatory Technical Standards on SCA (Commission Delegated Regulation (EU) 2018/389), or (ii) because they were merchant initiated transactions.