For the purposes of this Regulation, the following definitions shall apply:
(1) "terrorist financing" means the provision or collection of funds within the meaning of Article 1(4) of Directive 2005/60/EC;
(2) "money laundering" means any conduct which, when committed intentionally, is regarded as money laundering for the purposes of Article 1(2) or (3) of Directive 2005/60/EC;
(3) "payer" means either a natural or legal person who holds an account and allows a transfer of funds from that account, or, where there is no account, a natural or legal person who places an order for a transfer of funds;
(4) "payee" means a natural or legal person who is the intended final recipient of transferred funds;
(5) "payment service provider" means a natural or legal person whose business includes the provision of transfer of funds services;
(6) "intermediary payment service provider" means a payment service provider, neither of the payer nor of the payee, that participates in the execution of tr