BT-REQ-3972 PSD3 Impacts v6(without crop marks) RL - Flipbook - Page 24
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HL | PSD3 Impacts
13. Liability
(PSR Arts 54, 56, 57 & 60)
Overview
Customers will have 13 months to claim for
impersonation fraud or confirmation of payee
refunds.
All refunds payable by PSPs will be required to
be repaid within 10 business days.
Payer and payee PSPs will be liable for
unauthorised transactions that have been
executed in reliance on an SCA exemption.
What is changing?
The proposed PSR extends the ASPSP liability
regime to cover:
authorised payments where an ASPSP has failed
to notify a discrepancy under confirmation of
payee; or
consumer claims for impersonation of PSP fraud
(including where a PISP is involved).
In each case, PSPs will be required to refund or
explain within 10 business days.
This timeline will also be extended to claims for
unauthorised transactions where the ASPSP has
reasonable grounds for suspecting fraud and
therefore doesn’t refund immediately. The ASPSP
must refund or explain within 10 business days of a
claim (previously there was no timeline).
The proposed PSR will also impose liability for
unauthorised transactions where the payer’s PSP/
payee’s PSP applies an exemption from SCA, with
the payee’s PSP liable to the payer’s PSP where it is
the payee’s PSP’s exemption.
The payee/payee’s PSP will be liable to a payer’s
PSP for loss from failure to develop or amend
the systems, hardware and software that are
necessary to apply SCA.
The EP Text proposes to extend:
the scope of impersonation fraud protection
to cover any loss resulting from any
impersonation (not just impersonation of the
PSP); and
the 13-month long stop period currently
in place for a PSU reporting unauthorised,
defective transactions, and that would
now also apply to authorised transactions
where the ASPSP has failed to comply with
confirmation of payee requirements or
that result from impersonation fraud, to 18
months.
The Council Text follows the same approach
as the Original Commission Draft; however, it
requires a reimbursement for loss caused by
failure to comply with confirmation of payee
requirements to occur without undue delay.
