Oireachtas Joint and Select Committees
Wednesday, 24 May 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Authorised Push Payments Fraud: Banking and Payments Federation Ireland
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
Ms Davenport said that defrauded moneys are being disbursed across multiple bank accounts. In most countries in the world, it is hard, and getting harder, to set up a bank account. I discovered that to my cost when I had to move from Ulster Bank. It was an absolute nightmare. Is it the case that the bank accounts to which Ms Davenport has referred are in jurisdictions where there is much less control over the setting up of bank accounts? Why is it not easy enough to trace the fraudsters when there is so much control around the setting up of bank accounts?
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