Mr. Ed Brophy:

The legislation that regulates this at an EU level and in Ireland is the payment services directive, PSD, under the Central Bank. Sometimes the directive is called PSD2 and it will now become PSD3. The directive will have strong provisions on APP fraud, which I mentioned to the Deputy's colleague, Deputy Doherty. There is definitely a role for the Central Bank here and it is the de facto or the euro regulator for the payment services directive. In the UK, things are split up. In the UK, there is the Payment Systems Regulator which specifically looks at payment systems in that country. In Ireland, we have the Central Bank and it is the regulator around this matter. We would be delighted to deal with any forum that the Central Bank sets up in terms of this or any work that it wants to carry out specifically in regard to this AAP fraud activity, but also broader online fraud activities because the legislation exists in Ireland by way of PSD2 and PSD3. Officials from the Department of Finance appeared before this committee before the summer break and I think they confirmed this as well. Some of the tools are definitely there and we are very happy to work with the Central Bank of Ireland to advance that.

My colleague, Ms Bishop, will reflect on some of the broader activities at a global and more international level.