The FIAU would like to inform subject persons, namely payment service providers (PSPs) and crypto-asset service providers (CASPs), that with effect from today, it is adopting the revised Guidelines issued by the European Banking Authority (EBA) on 4 July 2024 on information requirements in relation to transfers of funds and certain crypto-assets under Regulation (EU) 2023/1113 i.e. The Transfer of Funds (recast) Regulation.
These Guidelines, also known as the Travel Rule Guidelines, reflect the extended requirements under the Transfer of Funds (recast) Regulation, which has become applicable as of today. They provide detail on how these requirements are to be complied with by PSPs, intermediary PSPs, CASPs and intermediary CASPs.
PSPs and CASPs are to note that the FIAU is adopting these Guidelines as its own legally binding guidance in terms of Regulation 17 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR). Furthermore, they repeal and replace the FIAU “Guidance Note on transfers of funds having missing or incomplete information” dated 25 October 2018.
PSPs and CASPs involved in transfers of funds or crypto-assets that fall within scope of the Regulation are encouraged to consult these Guidelines, including the corresponding FIAU Notice, which can be found on the FIAU’s website by accessing the following link and clicking the tab entitled ‘Financial Sector’.