Subsection 4: Obligations of the payee's payment service provider

I.-The payee's payment service provider shall apply effective procedures to detect whether, in the messaging or payment and settlement system used to effect a transfer of funds, the fields required to contain information on the payer and payee have been filled in using characters or elements that are admissible under the conventions of that system.
II.The payee's payment service provider has effective procedures in place, including, where applicable, a posteriori or real-time control, to detect any absence of the following information on the payer and payee:
1° Where the payer's payment service provider is located in the territory of the French Republic, the absence of the information referred to in Article L. 722-10 ;
2° Where the payer's payment service provider is located outside the territory of the French Republic, the absence of the information referred to in Article L. 722-9 ;
3° In the case of batch transfers, where the payer's payment service provider is located outside the territory of the French Republic, the absence of the information referred to in Article L. 722-9. The absence of this information is investigated in the batch transfer and not in the individual transfers grouped together in the batch.
III - Before crediting the payee's account or making the funds available to him, the payee's payment service provider shall check the accuracy and completeness of the information mentioned in II concerning the payee, on the basis of documents, data or information obtained from a reliable and independent source. This verification is deemed to have taken place if one of the following conditions is met:
1° The identity of the payee has been verified under the conditions laid down in Article L. 561-5, the information obtained having been kept under the conditions laid down in Article L. 561-12 ;
2° The payee is one of the persons mentioned in 13° of Article L. 561-2, in the situations provided for in II and III of Article L. 561-3.
By way of derogation, the beneficiary's payment service provider is not required to verify information on the beneficiary for transfers of funds the amount of which does not exceed €1,000 or the equivalent in local currency and which do not appear to be linked to other transfers of funds the cumulative amount of which with that of the transfer in question exceeds €1,000 or the equivalent in local currency, except where there are suspicions of money laundering or terrorist financing or where the transaction involves the transmission of funds within the meaning of 6° of II of Article L. 314-1.