The implementation of PSD2 will enable Third Party Payment Providers in executing payments on behalf of their customers, thus heightening the risk of fraudulent transactions.
This is the main reason why the European Banking Authority (EBA) has developed Guidelines in cooperation with the European Central Bank (ECB) to ensure implementation of high-level fraud reporting requirements under Article 96(6) of the regulative law PSD2.
The fraud reporting component under PSD2 expects Payment Service Providers to provide high-level data on a quarterly basis and more detailed data on a yearly basis.
In the Positioning Paper ‘Fraud reporting under PSD2’ we outline the data requirements per Payment Service under the fraud reporting component as well as data management principles and how FiSer can help in the transformation process.
The Positioning Paper about fraud reporting under PSD2 can be found here.