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

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

What about the Competition and Consumer Protection Commission? The problem is that there is no liability here. These forums can take the paid advertisement and not have to worry whether it is a scam or not. If a newspaper or the Yellow Pages advertised an investment scam that was fraudulent, surely there would be some comeback for that business or entity? There is no culpability or liability, even under the Digital Services Act. There is no liability for these online platforms. Some of these checks are surely easy to do, particularly for investment scams, given that the organisation has to be approved and authorised by the Central Bank.

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