Article 8 › 2

Where a payment service provider repeatedly fails to provide the required information on the payer or the payee, the payment service provider of the payee shall: (a) take steps, which may initially include the issuing of warnings and setting of deadlines, before proceeding to a rejection, restriction or termination in accordance with point (b) if the required information is still not provided; or (b) directly reject any future transfers of funds from that payment service provider, or restrict or terminate its business relationship with that payment service provider. The payment service provider of the payee shall report that failure, and the steps taken, to the competent authority responsible for monitoring compliance with anti-money laundering and counter-terrorist financing provisions.

← 1 · All articles · 9 →

Source: EUR-Lex CELLAR · retrieved 2026-09-04