Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I will finish on this point. I do not believe that defence stacks up. I understand the industry does not want the cost placed on the banks. However, there is an automatic reimbursement when it comes to the largest volume of fraud. If Ms Davenport genuinely believed what she said, she would say we should stop all that as well. There is nothing to prevent investigation even if there is reimbursement. While Britain is compared with Ireland in terms of what is happening at the moment, Britain is operating under a voluntary code. That voluntary code is about to go to a statutory basis where it will be a lot stricter. As has been mentioned, we will be focused on this area and therefore, there is going to be a change. The cost-benefit analysis is clear. The cost-benefit analysis carried out by the regulator in Britain is very detailed. It states the regulator's belief that the main benefit will be that approved push payment fraud will reduce dramatically in Britain as a result of this measure. Banks will invest significantly in deterring this because they will be on the hook. The regulator there also identified that some banks are worse than others. I would like to hear if that is the case here but I know I am out of time.