Council of the European Union and European Parliament 20 May 2015, Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006 (Text with EEA relevance)

Also known as

Regulation (EU) 2015/847 establishes uniform rules for the information on payers and payees that must accompany transfers of funds in any currency to prevent, detect, and investigate money laundering and terrorist financing. It mandates that payment service providers ensure full traceability by verifying and transmitting specific personal data throughout the payment chain, subject to risk-based thresholds and derogations for transfers within the Union. Enforcement is governed by a regime of effective, proportionate, and dissuasive administrative sanctions and monitoring measures to be implemented by Member States.AI

European Union · · · Cited by 836 · 20-05-2015

CHAPTER I. SUBJECT MATTER, SCOPE AND DEFINITIONS
Article 1. Subject matter
Article 2. Scope
Article 3. Definitions
CHAPTER II. OBLIGATIONS ON PAYMENT SERVICE PROVIDERS
SECTION 1. Obligations on the payment service provider of the payer
Article 4. Information accompanying transfers of funds
Article 5. Transfers of funds within the Union
Article 6. Transfers of funds to outside the Union
SECTION 2. Obligations on the payment service provider of the payee
Article 7. Detection of missing information on the payer or the payee
Article 8. Transfers of funds with missing or incomplete information on the payer or the payee
Article 9. Assessment and reporting
SECTION 3. Obligations on intermediary payment service providers
Article 10. Retention of information on the payer and the payee with the transfer
Article 11. Detection of missing information on the payer or the payee
Article 12. Transfers of funds with missing information on the payer or the payee
Article 13. Assessment and reporting
CHAPTER III. INFORMATION, DATA PROTECTION AND RECORD-RETENTION
Article 14. Provision of information
Article 15. Data protection
Article 16. Record retention
CHAPTER IV. SANCTIONS AND MONITORING
Article 17. Administrative sanctions and measures
Article 18. Specific provisions
Article 19. Publication of sanctions and measures
Article 20. Application of sanctions and measures by the competent authorities
Article 21. Reporting of breaches
Article 22. Monitoring
CHAPTER V. IMPLEMENTING POWERS
Article 23. Committee procedure
CHAPTER VI. DEROGATIONS
Article 24. Agreements with countries and territories which do not form part of the territory of the Union
Article 25. Guidelines
CHAPTER VII. FINAL PROVISIONS
Article 26. Repeal of Regulation (EC) No 1781/2006
Article 27. Entry into force

5.6.2015

Official Journal of the European Union

L 141/1

REGULATION (EU) 2015/847 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 20 May 2015

on information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006

(Text with EEA relevance)

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the

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