Activities of Ivo STREJČEK related to 2013/0024(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on information accompanying transfers of funds PDF (429 KB) DOC (570 KB)
Amendments (8)
Amendment 47 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Money laundering is the processing of criminal proceeds by disguising their illegal origin(s), changing their form(s), or moving the 'legitimized' funds back to the real economy, and natural and legal persons and entire jurisdictions that actively or passively participate in money laundering activities enable the development and profitability of organized crime, which consequently undermines legal business activity, threatens the sustainability of the Union's market economy and social welfare models.
Amendment 49 #
Proposal for a regulation
Recital 2
Recital 2
(2) In order to facilitate their criminal activities, money launderers and terrorist financers could try to take advantage of the freedom of capital movements entailed by the integrated financial area, unless certain coordinating measures are adopted at Union level. By its scale, Union action should ensure that Recommendation 16 on wire transfers of the Financial Action Task Force (FATF), adopted in February 2012 is transposed uniformly throughout the Union, and, in particular, that there is no discrimination and discrepancies between national payments within a Member State and cross border payments between Member States. Uncoordinated action by Member States alone in the field of cross border transfers of funds could have a significant impact on the smooth functioning of payment systems at Union level and therefore damage the internal market in the field of financial services.
Amendment 50 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) The implementation and enforcement of this Regulation, including FATF recommendation 16 on wire transfers adopted in February 2012, should not result in unjustified or disproportionate costs for payment service providers and citizens who use their services, and the freedom of legal capital movement is to be fully guaranteed throughout the EU.
Amendment 57 #
Proposal for a regulation
Recital 10
Recital 10
(10) In order noteither to impair the efficiency of payment systems nor to impose disproportionate burden on payment service providers and citizens who use their services, the verification requirements for transfers of funds made from an account should be separate from those for transfers of funds not made from an account. In order to balance the risk of driving transactions underground by imposing overly strict identification requirements against the potential terrorist threat posed by small transfers of funds, while ensuring proper traceability of the payment transaction, the obligation to check whether the information on the payer is accurate should, in the case of transfers of funds not made from an account, be imposed only in respect of individual transfers of funds that exceed EUR 1 000,always also include the name of the payee and be supplemented by any additional data deemed appropriate in respect of individual transfers of funds that exceed EUR 1 000 or individual transfers of funds lower than EUR 1000 made between the same payer and payee in the course of one calendar month that in total exceed the amount of EUR 1000. For transfers of funds made from an account, payment service providers should not be required to verify information on the payer accompanying each transfer of funds, where the obligations under Directive [xxxx/yyyy] have been met.
Amendment 99 #
Proposal for a regulation
Article 7 – paragraph 4 – subparagraph 1a (new)
Article 7 – paragraph 4 – subparagraph 1a (new)
Amendment 102 #
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, it shall either reject the transfer or ask for complete information on the payer and the payee before executing the payment transaction.
Amendment 110 #
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 2
Article 12 – paragraph 1 – subparagraph 2
If the intermediary payment service provider 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, it shall either reject the transfer or ask for complete information on the payer and the payee before executing the payment transaction.
Amendment 115 #
Proposal for a regulation
Article 15 a (new)
Article 15 a (new)
Article 15a International cooperation The Commission shall actively engage with the other FATF members and FATF-Style Regional Bodies (FSRBs), with a view to carefully monitoring the impact of this Regulation on payment service providers outside the Union and shall strengthen cooperation, where appropriate, with third-country competent authorities responsible for investigating and penalising money laundering and terrorist activities.