Oireachtas Joint and Select Committees

Wednesday, 12 July 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Authorised Push Payment Fraud: Central Bank of Ireland

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

With the modules, the committee is trying to hear from all different groups - the Department of Justice, the Department of Finance, the Central Bank, the Garda, the banks and the payments. I think every single person and every one of those groups wants the same thing that we do. We do not have a strategy, which is the problem. The Government does not have an economic crime strategy. The problem is the Central Bank is doing exactly what it is being asked to do, as are banks, but we do not have a joined-up strategy that pools everybody together to co-operate on that. Hopefully, some of the Commission’s proposals will help us along the way with shared databases and so on.

On social media, it is not part of the Commission’s proposal, but in Britain, social medial or online platforms that take paid advertisements also have a responsibility to compensate victims. Does the Central Bank have a view on that?

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