On 22 January 2020, the European Banking Authority (EBA) published amendments to its 2018 guidelines on fraud reporting under the revised Payment Services Directive (PSD2).

Article 96(6) of PSD2 requires all payment service providers to report statistical data on fraud relating to different means of payment to their national competent authorities and that such competent authorities provide the EBA and the European Central Bank with such data in an aggregated form.

The amending guidelines introduce two new data fields for reporting transactions where strong customer authentication (SCA) is not applied for reasons other than an exemption to SCA under Commission Delegated Regulation (EU) 2018/389. Additionally, the EBA has included some editorial changes to the previous guidelines for greater clarity.

The amending guidelines will be translated into the official EU languages, the publication of which will trigger a two-month period where national competent authorities must notify the EBA whether they comply or intend to comply with the guidelines.

The amendments will apply to the reporting of payment transactions initiated and executed from 1 July 2020.