European Banks Raise Concerns Over PSD2 Fraud Reporting Burden

A group of European banks have signed a joint letter to authorities expressing concerns about new fraud reporting requirements, citing the risk of divergence between member states and planned obsolescence in the face of upcoming legislation.

Representatives of 18 banks with EU operations, including multinationals such as Barclays, Deutsche Bank and Bank of America Merrill Lynch, signed the letter, which addressed the European Banking Authority (EBA) and the European Central Bank (ECB).

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