Activities of Antonio LÓPEZ-ISTÚRIZ WHITE related to 2013/0024(COD)
Legal basis opinions (0)
Amendments (4)
Amendment 14 #
Proposal for a regulation
Recital 10
Recital 10
(10) In order not to impair the efficiency of payment systems, 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, 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. 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 me, without affecting the possibility of Member States to reduce or remove that threshold according to the results of the national risk assessment.
Amendment 22 #
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
5. However, by way of derogation from paragraph 3, in the case of transfers of funds not made from an account, the payment service provider of the payer shall not verify the information referred to in paragraph 1 if the amount does not exceed EUR 1 000 and it does not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 1 000. Member States can reduce or remove the threshold when the national risk assessment advises to intensify the control over the transfers of funds not made from an account. Member States making use of this derogation shall inform the Commission thereof.
Amendment 25 #
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 2
Article 6 – paragraph 2 – subparagraph 2
This information need notshall be verified for accuracy, unless there is a suspicion of money laundering or terrorist financing.y according to the rules established under article 4(4) and 4 (5)
Amendment 27 #
Proposal for a regulation
Article 7 – paragraph 4
Article 7 – paragraph 4
4. For transfers amounting to EUR 1 000 or less, where the payment service provider of the payer is established outside the Union, the payment service provider of the payee need not verify the information pertaining to the payee, unless there is a suspicion of money laundering or terrorist financing. Member States can reduce or remove the threshold when the national risk assessment advises to intensify the control over the transfers of funds not made from an account. Member States making use of this derogation shall inform the Commission thereof.