The PSR compromise text: the payee’s PSP set to share the fraud burden

An instant credit transfer leaves a customer’s account. Under the proposed EU Payment Services Regulation (PSR), as agreed by the co-legislators, if the payee’s payment service provider (PSP) withholds it as suspected fraud and returns it, it will have ten seconds, counted from the moment the payer’s PSP received the order, to notify the payer’s PSP of the return and its reasons, as far as anti-money laundering disclosure rules allow.