Mr. John Palmer:

It is not something we have discussed or broached yet with anyone. It is something we can look at or we can look at it in the context of the national payments strategy.

We have a huge problem with fraud, and authorised push payment, APP, fraud is an element of that. However, the figures provided to the committee by the BPFI suggest that it declined considerably in 2022, in terms of value anyway, if not numbers. That is to be welcomed. In terms of looking at the UK problem with this, we are bad but the UK really has a huge problem. According to the UK finance fraud report, something like £440 million of push payment fraud happened in the UK in 2022. The BPFI, which is the only one that can tell us, says it is just under €10 million here. Based on population, we are not as bad per capitabut it should not be a source of complacency and we still have to take a lot of measures and do what we can to get that down.