# Regulation (EU) 2023/1113 (Transfer of Funds Regulation, TFR) — information accompanying transfers of funds and certain crypto-assets URL: https://consilena.com/coverage/laws/ksrc_pv6mperttv60wh63 - Jurisdiction: European Union - Type: Regulation - Identifier: 32023R1113 - Current as of: 9 June 2023 - Provisions: 40 - Official text: https://eur-lex.europa.eu/eli/reg/2023/1113/oj > The library is a research copy. Check the official source before relying on a provision: the text published there, not the copy in Consilena, is the law. ## Provisions - **Information accompanying transfers of funds**: 1. The payment service provider of the payer shall ensure that transfers of funds are accompanied by the following… - **Detection of missing information on the originator or the beneficiary**: The intermediary crypto-asset service provider shall implement effective procedures… - **Transfers of funds within the Union**: 1. By way of derogation from Article 4 (1) and (2), where all payment service providers involved in the payment chain are… - **Assessment and reporting**: The crypto-asset service provider of the beneficiary shall take into account missing or incomplete information on the originator or… - **Cooperation among competent authorities**: The exchange of information among competent authorities and with relevant third-country authorities under this… - **Entry into force**: This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union… - **Subject matter**: This Regulation lays down rules on the information on payers and payees accompanying transfers of funds, in any currency, and on the information… - **Committee procedure**: 1. The Commission shall be assisted by the Committee on the Prevention of Money Laundering and Terrorist Financing. That Committee shall be… - **Administrative sanctions and measures**: 1. Without prejudice to the right to provide for and impose criminal sanctions, Member States shall lay down the rules on… - **Repeal**: Regulation (EU) 2015/847 is repealed with effect from the date of application of this Regulation. References to the repealed Regulation shall be… - **Scope**: 1. This Regulation shall apply to transfers of funds, in any currency, which are sent or received by a payment service provider or an intermediary… - **Assessment and reporting**: The intermediary payment service provider shall take into account missing information on the payer or the payee as a factor when… - **Guidelines**: EBA shall issue guidelines addressed to the competent authorities and the payment service providers in accordance with Article 16 of Regulation (EU)… - **Retention of information on the payer and the payee accompanying the transfer**: Intermediary payment service providers shall ensure that all the information… - **Publication of sanctions and measures**: In accordance with Article 60(1), (2) and (3) of Directive (EU) 2015/849, the competent authorities shall publish… - **Detection of missing information on the originator or the beneficiary**: 1. The crypto-asset service provider of the beneficiary shall implement effective… - **Data protection**: 1. The processing of personal data under this Regulation is subject to Regulation (EU) 2016/679. Personal data that is processed pursuant to… - **Review**: 1. By 12 months after the entry into force of a Regulation on the prevention of the use of the financial system for the purposes of money laundering or… - **Agreements with countries and territories which do not form part of the territory of the Union**: 1. The Commission may authorise any Member State to conclude an… - **Assessment and reporting**: The intermediary crypto-asset service provider shall take into account missing information on the originator or the beneficiary as a… - **Information accompanying transfers of crypto-assets**: 1. The crypto-asset service provider of the originator shall ensure that transfers of crypto-assets are… - **Batch file transfers of crypto-assets**: In the case of a batch file transfer of crypto-assets from a single originator, Article 14(1) shall not apply to the… - **Transfers of funds to outside the Union**: 1. In the case of a batch file transfer from a single payer where the payment service providers of the payees are… - **Internal policies, procedures and controls to ensure implementation of restrictive measures**: Payment service providers and crypto-asset service providers shall… - **Transfers of crypto-assets with missing or incomplete information on the originator or the beneficiary**: 1. The crypto-asset service provider of the beneficiary… - **Definitions**: For the purposes of this Regulation, the following definitions apply: (1) ‘terrorist financing’ means terrorist financing as defined in Article 1… - **Provision of information**: Payment service providers and crypto-asset service providers shall respond fully and without delay, including by means of a central… - **Specific provisions**: Member States shall ensure that their administrative sanctions and measures include at least those laid down in Article 59(2) and (3) of… - **Detection of missing information on the payer or the payee**: 1. The payment service provider of the payee shall implement effective procedures to detect whether… - **Application of sanctions and measures by competent authorities**: 1. When determining the type of administrative sanctions or measures and the level of… - **Transfers of crypto-assets with missing information on the originator or the beneficiary**: 1. The intermediary crypto-asset service provider shall establish… - **Transfers of funds with missing information on the payer or the payee**: 1. The intermediary payment service provider shall establish effective risk-based… - **Monitoring**: 1. Member States shall require competent authorities to monitor effectively and to take the measures necessary to ensure compliance with this… - **Retention of information on the originator and the beneficiary accompanying the transfer**: Intermediary crypto-asset service providers shall ensure that all the… - **Reporting of breaches**: 1. Member States shall establish effective mechanisms to encourage the reporting to competent authorities of breaches of this Regulation… - **Assessment and reporting**: The payment service provider of the payee shall take into account missing or incomplete information on the payer or the payee as a… - **Record retention**: 1. Information on the payer and the payee or on the originator and beneficiary shall not be retained for longer than strictly necessary… - **Transfers of funds with missing or incomplete information on the payer or the payee**: 1. The payment service provider of the payee shall implement effective… - **Detection of missing information on the payer or the payee**: 1. The intermediary payment service provider shall implement effective procedures to detect whether… - **Amendments to Directive (EU) 2015/849**: Directive (EU) 2015/849 is amended as follows: (1) in Article 2 (1), point (3), points (g) and (h) are deleted; (2)… - **Record retention**: 2015. Member States may, without prejudice to national criminal law on evidence applicable to ongoing criminal investigations and legal… - **Amendments to Directive (EU) 2015/849**: (16)(h), of that Regulation; (*1) Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023… - **Definitions**: (9) ‘transfer of funds’ means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service… - **Review**: 3. By 30 June 2027, the Commission shall submit to the European Parliament and to the Council a report on the application and enforcement of this… - **Detection of missing information on the originator or the beneficiary**: (5) of Directive (EU) 2015/849 applies to the beneficiary. - **Administrative sanctions and measures**: (4) of Directive (EU) 2015/849, competent authorities shall have all the supervisory and investigatory powers that are… - **Agreements with countries and territories which do not form part of the territory of the Union**: 4. If, within two months of receipt of the request, the… - **Information accompanying transfers of funds**: 4. Before transferring funds, the payment service provider of the payer shall verify the accuracy of the… - **Information accompanying transfers of crypto-assets**: 2. The crypto-asset service provider of the originator shall ensure that transfers of crypto-assets are… - **Scope**: 4. This Regulation shall not apply to persons that have no activity other than to convert paper documents into electronic data and that do so pursuant to… - **Data protection**: 4. Payment service providers and crypto-asset service providers shall ensure at all times that the transmission of any personal data on the… - **Detection of missing information on the payer or the payee**: (2), points (a) and (b), in respect of that batch file transfer. 3. In the case of transfers of… - **Transfers of funds within the Union**: (4), in the case of transfers of funds referred to in paragraph 2, point (b), of this Article, the payment service provider… - **Transfers of funds with missing or incomplete information on the payer or the payee**: (1), the payment service provider of the payee shall, on a risk-sensitive… - **Definitions**: (12) ‘unique transaction identifier’ means a combination of letters, numbers or symbols determined by the payment service provider, in accordance… - **Detection of missing information on the payer or the payee**: (5) of Directive (EU) 2015/849 applies to the payee. - **Amendments to Directive (EU) 2015/849**: (4) the following articles are inserted: ‘Article 19a 1. Member States shall require crypto-asset service providers to… - **Review**: take into account new developments in the field of anti-money laundering and counter-terrorist financing, as well as relevant evaluations, assessments… - **Information accompanying transfers of crypto-assets**: 5. In the case of a transfer of crypto-assets made to a self-hosted address, the crypto-asset service… - **Scope**: (7), of Regulation (EU) 2023/1114, shall be treated as crypto-assets under this Regulation. 5. A Member State may decide not to apply this Regulation to… - **Administrative sanctions and measures**: 7. Competent authorities shall exercise their powers to impose administrative sanctions and measures in accordance with… - **Amendments to Directive (EU) 2015/849**: (16), of Regulation (EU) 2023/1114, with the exception of point (h) of that point, with a respondent entity not… - **Definitions**: (18) ‘distributed ledger address’ means an alphanumeric code that identifies an address on a network using distributed ledger technology (DLT) or… - **Amendments to Directive (EU) 2015/849**: 2. Member States shall ensure crypto-asset service providers take into account the information referred to in paragraph 1… --- Consilena is a software provider, not a law firm. AI output is not legal advice: consult a licensed lawyer in the relevant jurisdiction. Page: https://consilena.com/coverage/laws/ksrc_pv6mperttv60wh63. Index of every page: https://consilena.com/llms.txt.