Oireachtas Joint and Select Committees
Tuesday, 24 October 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Authorised Push Payment Fraud: Discussion (Resumed)
Mr. Philip Milton:
The first thing to say about those kinds of statistics is that it is incredibly sobering to see that kind of bullying associated with the Meta platform. We take those statistics really seriously. It is important to work in collaboration with banks to try to get underneath the bonnet of the statistics because what we see here is a real opportunity to work collaboratively with banks. If they are collecting those kinds of statistics, presumably they can collect the details from the customers as to where they have seen that scam and then report the information to us. We can use that information to take action on the specific piece of content and to train our systems accordingly so they can better respond to that kind of scam in the next case. The statistics are sobering, although I would point out that they are a little out of date. I believe they are from last year and there have been quite a lot of changes on our platform since then, both in the UK and Ireland and globally. We would hope to see quite a lot of change in that regard. We would be keen to get underneath the bonnet of those statistics to try to see if there are opportunities to develop a working relationship with banks so we can take action on this on a more regular basis.
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