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CEBS, CESR and CEIOPS publish their common understanding in relation to the information on the payer of accompanying fund transfers to payment service providers of payees.
The common understanding proposes some practical solutions in processing such messages, including suggested procedures and policies in seeking complete information, reporting, and internal controls.
Following the recent implementation, there has been a high trend of incomplete incoming messages related to funds transfers, and in particular some Member States have noted a very high trend from key non-EU countries, including US and