Activities of Eva LICHTENBERGER related to 2013/0024(COD)
Legal basis opinions (0)
Amendments (25)
Amendment 12 #
Proposal for a regulation
Recital 1
Recital 1
(1) Flows of dirty money through transfers of funds can damage theMassive flows of illicit money damage the structure, stability and reputation of the financial sector and threaten the internal market. Terrorism shakes the very foundations of our societysingle market as well as international development, and terrorism shakes the very foundations of our society. Crucial facilitators of illicit money flows are complex corporate structures operating in and through secrecy jurisdiction, often also referred to as tax havens. The soundness, integrity and stability of the system of transfers of funds and confidence in the financial system as a whole could beis being seriously jeopardised by the efforts of criminals and their associates either to disguise the origin of criminal proceeds or to transfer funds for terrorist purposes.
Amendment 13 #
Proposal for a regulation
Recital 6
Recital 6
(6) The full traceability of transfers of funds can be a particularly important and valuable tool in the prevention, investigation and detection of money laundering or terrorist financing. It is therefore appropriate, in order to ensure the transmission of information throughout the payment chain channelled through the financial system, to provide for a system imposing the obligation on payment service providers to have transfers of funds accompanied by information on the payer and the payeereport identity information on transfer of funds conceded on behalf of their clients, and to have transfers of funds accompanied by information to the competent authorities on the payer and the payee to prevent their financial services being misused for money laundering and terrorist financing.
Amendment 15 #
Proposal for a regulation
Recital 13
Recital 13
(13) For transfers of funds from a single payer to several payees to be sent in an inexpensive way in batch files containing individual transfers from the Union to outside the Union, provision should be made for such individual transfers to carry only the account number of the payer or his unique transaction identifier provided that complete information on the payer and the payee is contained in the batch file.
Amendment 16 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to check whether the required information on the payer and the payee accompanies transfers of funds, and to help to identify suspicious transactions, the payment service provider of the payee and the intermediary payment service provider should have effective procedures in place in order to detect whether information on the payer and the payee is missing. or incomplete. This in particular if numeral payment services are involved to improve the traceability of transfers of funds
Amendment 17 #
Proposal for a regulation
Recital 15
Recital 15
(15) Owing to the potential terrorist financing threat posed by anonymous transfers, it is appropriate to require payment service providers to request information on the payer and the payee. In line with the risk based approach developed by FATF, it is appropriate to identify areas of higher and lower risk with a view to better targeting money laundering and terrorist financing risks. Accordingly, the payment service provider of the payee and the intermediary service provider should establish effective risk- based procedures and individually assess and evaluate risks for cases where a transfer of funds lacks or are incomplete regarding the information on the required payer and payee information, in order to decide whether to execute, reject or suspend that transfer and what appropriate anti-abuse measures with view to preventing misuse and which follow-up action to take. Where the payment service provider of the payer is established outside the territory of the Union, enhanced customer due diligence should be applied, in accordance with Directive [xxxx/yyyy], in respect of cross-border correspondent banking relationships with that payment service provider.
Amendment 18 #
Proposal for a regulation
Recital 17
Recital 17
(17) The provisions on transfers of funds where information on the payer or the payee is missing or incomplete apply without prejudice to any obligations on payment service providers and the intermediary payment service providers to suspend and/or reject transfers of funds which violate provisions of civil, administrative or criminal law. The need for identity information on payer or the payee of individuals, legal persons, trusts, foundations, mutual societies, holdings and other similar existing or future legal arrangements is a key factor in tracing criminals who might otherwise hide their identity behind corporate structure.
Amendment 19 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 – introductory part
Article 3 – paragraph 2 – subparagraph 1 – introductory part
This Regulation shall not apply to transfers of funds carried out using a credit or debit card, or a mobile telephone or any other digital or information technology (IT) prepaid or post-paid device, where the following conditions are fulfilled:
Amendment 20 #
Proposal for a regulation
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
(b) the payer's account number, where such an account is used to process the transfer of funds, or a unique transaction identifier where no such account is used for that purpose;
Amendment 21 #
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. Before transferring the funds, the payment service provider of the payer shall verify the accuracy of the complete information referred in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source.
Amendment 23 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. By way of derogation from Article 4(1) and (2), where the payment service provider(s) of both the payer and the payee are established in the Union, only thethe identity and account number of the payer and payee or his/hers unique transaction identifier shall be provided at the time of the transfer of funds.
Amendment 24 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. In the case of batch file transfers from a single payer where the payment service providers of the payees are established outside the Union, Article 4(1) and (2) shall not apply to the individual transfers bundled together therein, provided that the batch file contains the information referred to in that Article and that the individual transfers carry the identity and the account number of the payer or his/hers unique transaction identifier.
Amendment 26 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The payment service provider of the payee shall detect whether the fields relating to the information on the payer and the payee in the messaging system or the payment and settlement system used to effect the transfer of funds, have been filled in using the characters or inputs admissible to the internal risk-based established anti-abuse procedures within the conventions of that system.
Amendment 28 #
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2
Article 8 – paragraph 1 – subparagraph 2
If the payment service provider of the payee becomes aware, when receiving transfers of funds, that information on the payer and the payee required under Articles 4(1) and (2), 5(1) and 6 is missing or incomplete and has not been completed, it shall either reject the transfer orand ask for complete information on the payer and the payee.
Amendment 29 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
The payment service provider of the payee shall according to the payment service providers risk-based procedures consider missing or incomplete information on the payer and the payee as a factor in assessing whether the transfer of funds, or any related transaction, is suspicious, and whether it must be reported to the Financial Intelligence Unit.
Amendment 30 #
Proposal for a regulation
Article 11 – paragraph 2 – introductory part
Article 11 – paragraph 2 – introductory part
2. The intermediary payment service provider shall have effective procedures in place in order to detect whether the following information on the payer and the payee is missing or incomplete:
Amendment 31 #
Proposal for a regulation
Article 15 – title
Article 15 – title
Cooperation obligations Cooperation obligations and Equivalence
Amendment 32 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
Payment service providers established in the Union shall apply this regulation with regard to their subsidiaries and branches operating in jurisdictions outside the Union that are not deemed equivalent. The Commission shall by means of delegated acts in accordance with Article 22a adopt decisions on the recognition of the legal and supervisory framework of jurisdictions outside the Union as equivalent to the requirements of this Regulation.
Amendment 33 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
The payment service provider of the payer and the payment service provider of the payee shall keep records of the information referred to in Articles 4, 5, 6 and 7 for five years. In the cases referred to in Article 14(2) and (3), the intermediary payment service provider must keep records of all information received for five years. Upon expiry of this period, personal data must be deleted, unless otherwise provided for by national law, which shall determine under which circumstances payment service providers may or shall further retain data. Member States may allow or require further retention only if necessary for the prevention, detection or investigation of money laundering and terrorist financing. The maximum retention period following carrying-out of the transfer of funds shall not exceed ten years, and the storage of personal data shall comply with the General Data Protection Regulation [yyyy/xxxx].
Amendment 34 #
Proposal for a regulation
Article 18 – paragraph 1 – point a
Article 18 – paragraph 1 – point a
(a) repeated non-inclusion of required information on the payer and payee by a payment service provider, in breach of Articles 4, 5 and 6;
Amendment 35 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
Amendment 36 #
Proposal for a regulation
Article 19 – paragraph 2
Article 19 – paragraph 2
Amendment 37 #
Proposal for a regulation
Article 21 – paragraph 2 – point b
Article 21 – paragraph 2 – point b
(b) appropriate protection for whistle- blowers and persons who report potential or actual breaches;
Amendment 38 #
Proposal for a regulation
Article 21 – paragraph 3
Article 21 – paragraph 3
3. The payment service providers in cooperation with the competent authorities shall establish appropriateinternal procedures for their employees to report breaches internally through a specificure channel.
Amendment 39 #
Proposal for a regulation
Article 22 – paragraph 1 a (new)
Article 22 – paragraph 1 a (new)
Article 22 a Exercise of a delegation 1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 15(1a) shall be conferred on the Commission for an indeterminate period of time from the date referred to in Article 26. 3. The delegation of power referred to in Article 15(1a) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of that decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 5. A delegated act adopted pursuant to Article 15(1a) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or the Council.
Amendment 40 #
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1
Article 24 – paragraph 1 – subparagraph 1