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  1. Legal news
    17 February 2021
    Germany: Extension of Money Laundering Crime burdens Obliged Entities
    www.twobirds.com/en/news/articles/2021/germany/extension-of-money-laundering-crime-burdens-obliged-entities

    The German parliament (Bundestag) has passed a new version of the money laundering offence, which has far-reaching implications for the fulfillment of obligations under the Money Laundering Act.

  2. Legal news
    25 March 2021
    German Federal Court: German merchants are allowed to surcharge Paypal and Sofort
    www.twobirds.com/en/news/articles/2021/germany/german-federal-court-german-merchants-are-allowed-to-surcharge-paypal-and-sofort

    On 25 March 2021, the German Federal Court (the highest civil court in Germany) ruled that German merchants are allowed to apply a surcharge on payments made via PayPal and Sofort.

  3. Legal news
    30 January 2020
    Implementation of the fifth money laundering directive in Germany: increased penalty in the course of the transparency register
    www.twobirds.com/en/news/articles/2020/germany/implementation-of-the-fifth-money-laundering-directive-in-germany

    At the beginning of the year, the Fifth Money Laundering Directive (“AMLD5”) was implemented in Germany. Thereby, the German Money Laundering Act was subjected to an extensive reform, in regards to penalty infringements ...

  4. Legal news
    11 June 2021
    On 10 June 2021, the European Banking Authority (EBA) published its final revised Guidelines on major incident reporting under the Payment Service Directive (PSD2) - (the “Guidelines” - EBA/GL/2021/03).
    www.twobirds.com/en/news/articles/2021/global/on-10-june-2021-the-european-banking-authority-eba-published-its-final-revised-guidelines

    Introduction and background Pursuant to article 96(3) of Directive (EU) 2015/2366 (PSD2), the original Guidelines on major incident reporting were developed in 2017 in close cooperation with the European Central Bank ...

  5. Legal news
    30 January 2020
    German crypto market: what you need to know about the crypto depository service
    www.twobirds.com/en/news/articles/2020/germany/german-crypto-market-what-you-need-to-know-about-the-crypto-depository-service

    On 1 January 2020, the crypto depository service was introduced as a new financial service under the German Banking Act (Kreditwesengesetz – KWG). The legislation, demanded by European prescriptions, changes Germany’s ...

  6. Legal news
    12 July 2021
    Payment Systems Regulator consulting on its proposed strategy
    www.twobirds.com/en/news/articles/2021/global/payment-systems-regulator-consulting-on-its-proposed-strategy

    The UK’s Payment Systems Regulator (PSR) recently published its proposed five-year strategy, setting out the key outcomes and strategic priorities that will guide its operations. Given the rapid pace of development in ...

  7. Legal news
    19 July 2021
    Take 2: Changes to German legislation allowing access to the iPhone's NFC antenna
    www.twobirds.com/en/news/articles/2021/germany/changes-to-german-legislation-allowing-access-to-the-iphone's-nfc-antenna-take-2

    Germany will introduce changes to its legislation regarding the access to technical infrastructure by payment service providers in Spring 2022.

  8. Legal news
    28 February 2018
    Payments in the Airline Industry
    www.twobirds.com/en/news/articles/2018/global/payments-in-the-airline-industry

    The so-called "PSD2" is the revision of an existing directive from 2007, called the "Payment Services Directive" or "PSD" or "PSD1".

  9. Legal news
    21 August 2019
    PSD2: BaFin announces postponing SCA-rules for online credit card payments in Germany
    www.twobirds.com/en/news/articles/2019/germany/psd2-bafin-announces-postponing-sca-rules-for-online-credit-card-payments-in-germany

    The requirement of Strong Customer Authentication (SCA) for payment service providers was scheduled for 14 September 2019. Germany’s Federal Financial Supervisory Authority (BaFin), however, just announced it will not ...