Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

My colleagues will be picking up on some of that. In discussing authorised push-payment fraud and the level of reimbursement, we do not really have accurate data across the financial system. We rely on the data we get from the BPFI which comes from individual banks which have different strategies. This might be a question for the Central Bank. The three main lenders all have a different approach when reporting fraud to the Garda. Bank of Ireland reports everything. AIB only reports the bits it is liable for. That is crazy and does not make any sense whatsoever. I would ask the Central Bank, as regulator of those banks, to pick up on that and get a common approach. It speaks to what Mr. Casey said; there is no common system and joined-up thinking.

In Britain, the Payment Systems Regulator collects all the data on authorised push-payment frauds and the amount of compensation paid under the voluntary code operated by ten of the main financial institutions. It has accurate data there. Is there a role for the Central Bank to collect those data as opposed to this committee or society in general having to rely on each individual financial institution to provide information to the BPFI which, in fairness, has taken many initiatives on this? For me, the biggest problem is that people are not working together and there are some other frustrations. Should the Central Bank collect and publish the data so that we can see the trends?