Transfer of Funds Regulation
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Table of Contents
Chapter I – Subject matter, scope and definitions
Chapter II – Obligations on payment service providers
Chapter III – Obligations on crypto-asset service providers
Chapter IV – Common measures applicable by payment service providers and crypto-asset service providers
Chapter V – Information, data protection and record-retention
Chapter VI – Sanctions and monitoring
Chapter VII – Implementing powers
Chapter VIII – Derogations
Chapter IX – Other provisions
Chapter X – Final provisions
Recitals (65)
Annexes
Chapter VI – Sanctions and monitoring
Article 32
Reporting of breaches
1. Member States shall establish effective mechanisms to encourage the reporting to competent authorities of breaches of this Regulation.
Those mechanisms shall include at least those referred to in Article 61(2) of Anti-Money Laundering Directive (AMLD).
2. Payment service providers and crypto-asset service providers, in cooperation with the competent authorities, shall establish appropriate internal procedures for their employees, or persons in a comparable position, to report breaches internally through a secure, independent, specific and anonymous channel, proportionate to the nature and size of the payment service provider or the crypto-asset service provider concerned.
Related Recitals