Parliament Act no. 6 of 19 May 2010 on information on the payer accompanying transfers of funds

Modified repeals, hovedlov replaces information


Chapter 1

Scope etc.


§ 1. This Act shall apply to transfers of funds in any currency that are sent or received by a payment service in Greenland when the payment service provider is a money transfer company, or branch of a corresponding Greenland or foreign company.
Subsection. 2. This Act shall not apply to transfers of funds carried out using a credit or debit card if
1) the payee has an agreement with the payment service provider that offers the opportunity to pay for goods and services, and || | 2) money transfer shall include a unique identifier which allows the transaction to be traced back to the payer.
Subsection. 3. This law does not apply to transfers of amounts up to 7,500 kr., Made using electronic money, as defined in the Financial Business Act, if
1) are not rechargeable card maximum storage 1,125 kr. or
2) for rechargeable card maximum storage up to 18,750 kr. within a calendar year and the maximum can be redeemed 7,500 kr. within one calendar year.
Subsection. 4. Notwithstanding paragraph. 3, this law does not apply to transfers of funds carried out using a mobile phone or other digital or IT device, when such transfers are pre-paid and do not exceed 1,125 kr.
Subsection. 5. This law shall not apply to transfers of funds carried out using a mobile phone or other digital or IT device, when such transfers are post-paid and
1) the payee has an agreement with the payment service provider, which allows you to pay for the supply of goods and services
2) money transfer shall include a unique identifier which allows the transaction to be traced back to the payer, and
3) payment service provider is subject to the obligations of the Act on measures to Prevent money laundering and terrorist financing.

§ 2. This Act shall not apply to transfers of funds within Greenland in connection with the purchase of goods and services if
1) the amount does not exceed 7,500 kr.,
2) the payment intermediary is subject to the legislation on preventive measures against money laundering and terrorist financing, and
3) the payment intermediary by means of a unique reference number through the receiver to track transfers of funds from the legal or natural person, as the recipient has signed an agreement with the supply of goods or services .

§ 3. The requirements for what information must accompany the transfer of funds referred to. § 9 shall not apply to transfers of funds to organizations with charitable purposes when
1) the amount does not exceed 1,125 kr., | || 2) the transfer is carried out in Greenland,
3) organization is subject to reporting and
4) the organization is subject to public oversight or external audit carried out by a chartered or certified accountant.
Subsection. 2. The exemption under subsection. 1 is conditional upon the organization to register with tax administration and document that the requirement for reporting and external audit or public supervision are met. The organization must also indicate the individuals that make up the organization's chief executive or otherwise exercise control over the company. Changes in the circumstances mentioned in the 1st and 2nd clauses., Should be reported to tax administration.

§ 4. This Act shall not apply to transfers of funds
1) where the payer withdraws cash from his own account,
2) where there is a permit to conduct a chargeback between two parties that allows for account payments between the parties if the money transfer is accompanied by a unique identifier, which makes it possible to trace the natural or legal person,
3) made with truncated checks,
4) to public authorities for taxes, fines or other charges in Greenland, or
5) if the payer and payee are payment service providers acting on their own account.


Chapter 2

Definitions


§ 5. For the purposes of this Act:
1) Pays: A natural or legal person who is the account holder who authorizes the transfer of funds from an account, or, if there is no account, a natural or legal person ordering a money transfer.
2) Receiver: A natural or legal person who is the intended final recipient of transferred funds.

3) Payment Provider: A natural or legal person whose business includes the provision of remittance services.
4) Between Payment Provider: A payment service provider, neither of the payer or the payee, that participates in the implementation of a money transfer.
5) Money Transfer: A transaction carried out on the payer's behalf through a payment service provider by electronic means with a view to making funds available to a payee at a payment service provider, irrespective of whether the payer and the payee are the same person.
6) batch file: A number of individual transfers of funds which are bundled together.
7) Unique identifier: A combination of letters, numbers or symbols, determined by the payment service provider, in accordance with the protocols of the payment and settlement system or messaging system used to make the money transfer.
8) Money Laundering Secretariat: The Money Laundering Secretariat of Greenland is located in the Money Laundering Secretariat in Denmark, which is physically located at the Public Prosecutor for Serious Economic Crime (SEC), but not subordinate to the State Prosecutor.

§ 6. For money laundering to be in this law are defined money laundering as defined in § 4 of the Greenland Parliament Act on prevention of money laundering and terrorist financing.

§ 7. For the financing of terrorism in this Act the financing of terrorism as defined in § 30 of the Criminal Code for Greenland, as regards the actions covered by the same law § 28


Chapter 3


Obligations of the payer's payment service



Full details of pay


§ 8. Complete information on the payer shall consist of his name, address and account number. The address may be substituted payer's date of birth and place of birth, a customer identification number or identity number. If the payer does not have the account number, the payment service provider instead of the account number using a unique identifier which allows the transaction to be traced back to the payer.



Information on money transfers and registration


§ 9. Payment intermediary shall ensure that transfers of funds are accompanied by complete information on the payer, see. § 8.
Subsection. 2. Before transferring the funds, the payer's payment service check all information on the payer on the basis of documents, data or information from a reliable and independent source.
Subsection. 3. For money transfers from an account, verification may be deemed to be fulfilled when
1) the payer's identity has been verified in connection with the opening of the account and the information obtained in connection therewith, kept in accordance with the obligations on storage of identity information, etc. in the law on prevention of money laundering and financing of terrorism, or
2) the payer was a customer of the payment service provider, before the commencement of this Act, and the complete information is collected at the appropriate time on the basis of a risk assessment.
Subsection. 4. For transfers not made from an account, the payer's payment service provider only confirm details of the payer, if the amount exceeds 7,500 kr., Unless the transaction is carried out in several operations that appear to be linked and together exceed 7,500 kr. || | Subsection. 5 pieces. 4 does not apply if there is a suspicion that the transfer related to money laundering or terrorist financing subject to the notification requirements of § 7 of the law on prevention of money laundering and terrorist financing.
Subsection. 6. The payer's payment service provider for 5 years, keep records containing the complete information on the payer accompanies transfers of funds.



Remittances in Greenland


§ 10. § 9 paragraph. 1, does not apply when both the payer and the payee are located in Greenland, and the money transfer is accompanied by the payer's account number or a unique identifier allowing the transaction to be traced back to the payer.
Subsection. 2. If the payee's request, the payer's payment service provider, however, provide the complete information about pay available to the payee within three working days after the request is received.



Remittances between Greenland and other countries


§ 11 Transfers of funds where the payee is located outside Greenland, be accompanied by complete information on the payer.

Subsection. 2. For batch file transfers from a single payer where the payment service providers are located outside Greenland, paragraph. 1 does not apply to the individual transfers bundled therein if the batch file contains that information and that the individual transfers carry the payer's account number or a unique identifier.


Chapter 4

Obligations of the payee



Detection of missing information on the payer


§ 12. PSP of the payee is required to determine whether the fields concerning information on the payer in the messaging or payment and settlement system used for the payer have been completed using the characters or inputs that are permitted under the rules of the that system. PSP of the payee shall have effective procedures to determine whether missing the following information on the payer:
1) For transfers of funds where the payer's payment service provider located in Greenland, the information required by § 10.
2) For transfers where the payer's payment service provider is outside of Greenland, the complete information on the payer in accordance with § 8 or, if applicable, the information required in accordance with § 17
3) for batch file transfers where the payer's payment service provider located outside Greenland , the complete information on the payer in accordance with § 8, but only in the batch file and not the individual transfers bundled therein.



Transfers of funds with missing or incomplete information on the payer


§ 13. If the payee upon receipt of a transfer becomes aware that the information required under this Act is missing or incomplete, the payment service provider may refuse the transfer or ask for complete information on the payer.
Subsection. 2. Where a payment service provider regularly to supply the required information on the payer, the payee shall take steps, which may initially include the issuing of warnings and setting of deadlines, and then rejecting any future transfers of funds from that payment service provider or deciding whether the business relationship with that payment service provider should be limited or terminated. Hits payee measures under the 1st clause., The Money Laundering Secretariat informed.



Risk-based assessment


§ 14. Missing or incomplete information on the payer should be included in the payee's payment service provider's assessment of whether a transfer of funds or a similar transaction, and whether the Money Laundering Secretariat should be informed in accordance with § 7 of the Act on Measures to Prevent Money Laundering and terrorist financing.



Registration


§ 15. PSP of the payee must for 5 years, keep records containing the information received on the payer.


Chapter 5

Obligations of intermediary payment



Keeping information on the payer with the transfer


§ 16. Intermediary payment service providers shall ensure that all information received on the payer that accompanies a transfer of funds is kept with the transfer.



Technical limitations


§ 17 paragraph. 2-5 applies when the payer's payment service provider is outside of Greenland and the intermediary payment service provider is situated in Greenland.
Subsection. 2. Intermediary payment intermediary may use a payment system with technical limitations to send remittances to the payee, irrespective of the technical limitations do not allow that information on pay from accompanying the transfer of funds, unless the intermediary payment service provider upon receipt of a money transfer becomes aware that the information on the payer required under this Act is missing or incomplete.
Subsection. 3. If the payment service provider upon receipt of a money transfer aware that the information on the payer required under this Act is missing or incomplete, the intermediary payment service provider only use a payment system with technical limitations if it is possible to notify the payee about that data on pay is inadequate or incomplete. The notification shall be made by using a debit or messaging system, which allows you to convey this information, or using a different procedure, accepted or agreed between the two PSPs.

Subsection. 4. Where the intermediary payment service provider uses a payment system with technical limitations, the intermediary payment service provider at the request of the payee within three working days after receiving the request, all information received on the pay available to the payee, irrespective of whether it is complete or not.
Subsection. 5. In the cases referred to in paragraph. 2 and 3, the intermediary payment service provider for 5 years, keep records containing all information received.


Chapter 6

Supervision and redress


§ 18. The tax authority shall ensure that PSPs comply with this Act.
Subsection. 2. Payment service providers should provide the tax administration with the information necessary for supervision of compliance with this law.

§ 19. Decisions taken by the tax administration according to law can of that decision targets, referred to the Ministry of Industry and Labour at least 4 weeks after the decision was communicated to him.




Chapter 7
Penalties



§ 20. Intentional or grossly negligent violation of § 9 paragraph. 1, 2, 4 and 6, § 10 paragraph. 2, § 11 paragraph. 1, §§ 12, 13, 15 and 16, and § 17 paragraph. 3-5, operated under the Criminal Code with a fine. Under aggravating circumstances, Criminal Law Chapter 31 apply.
Subsection. 2. If a business or individual to fulfill the duty incumbent on them according to § 18 paragraph. 2, the tax administration. as a coercive require the person, company, or the company responsible persons daily or weekly fines.
Subsection. 3. It may be imposed on companies etc. (legal persons) criminal liability under the rules of Chapter 5 of the Criminal Act.


Chapter 8

Entry into force


§ 21. This Act shall come into force on 1 June 2010.





Greenland, May 19, 2010




Kleist
/
Ove Karl Berthelsen