Overview

• EU member states have finalized rules requiring payment service providers to exchange fraud-relevant information and implement IBAN–account name verification before transfers.
• The framework targets emerging tactics such as spoofing by enforcing real-time data sharing and validation among banks and other payment actors.
• New transparency measures mandate that ATMs display all applicable fees and exchange rates before a transaction and oblige clearer fee disclosures from card systems.
• Germany’s Bundesverband deutscher Banken and other banking groups oppose proposals to hold credit institutions solely liable for fraud losses, advocating for shared responsibility across the industry.
• The regulations now move to formal negotiations with the European Parliament before they can be adopted and enter into force.