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
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
In this case, what happened is that the fraudsters gained access to the banking online, go in and set themselves up as a beneficiary, wait for the period that allows for larger transactions, which is usually two days, and then transfer money to another account that they control.
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