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)
Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source
They obviously are when we look at the figures showing that 61% of the reported authorised push payments and 87% of scams come through social media platforms, or we look at the backup TSB data which showed that 80% of that company's fraud cases came through Meta-owned companies. They obviously are and it is obviously a big problem. It is shocking what is being revealed here this evening. When the banks told us there were no pathways, nobody for them to talk to and nothing arranged, it was quite unbelievable. The witnesses have verified this evening in respect of the banks and institutions where the money is being taken from and that for the end user there is nobody to talk to. If one thing is to come out of this evening's meeting, that pathway has to be there. People need a human being to speak to as well. They do not need drop-down menus. All of the companies before us can afford to at least have somebody available so the banks know who to speak to and can have a conversation with that person.
Once there is a suspicion of fraudulent activity, what happens then? How does Meta, Facebook or Instagram engage with the appropriate authorities in this State and abroad to ensure the fraudsters face more than the inconvenience of having to set up a new account or switching over to a fake account? Will the witnesses talk me through what happens in terms of their reporting?
No comments