In November, the EU institutions involved agreed on the key content of the future EU regulation for instant credit transfers.
KPMG Law expert Marc Pussar comments on the future EU regulation in the Platow Brief of December 7, 2023:
The EU Commission is eliminating problems with fraud detection by making name matching mandatory. The name comparison means that “the expected and actual protection of citizens” coincide at this point. For banks and service providers, the change will lead to a need for adaptation and will therefore cause “additional costs for implementation and ongoing operations”, explains Marc Pussar.
KPMG Law
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