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. Ryan Meade:

I want to address the point made about interaction with regulators and whether there is a regulator in this space. We deal with multiple regulators, including the Central Bank. We have a dedicated priority web forum for State bodies to report issues to us. The Central Bank use that. ComReg also uses it to report issues. We engage with the Advertising Standards Authority for Ireland on advertising issues. It has been mentioned that the UK has a specific regulator to deal with this issue. Increasingly, these complex issues involve multiple regulators nowadays of necessity because they include multiple industry sectors, multiple disciplines and so on. It is not that unusual there is no one regulator covering this entire space. That type of regulatory co-operation between regulators and across industry is more common and more necessary. Coimisiún na Meán will be Ireland's digital services co-ordinator under the Digital Services Act and will have a role in bringing together the regulation more generally. Already there is informal networks of regulators, such as the Economic Regulators Network, to discuss cross-cutting issues and so on. It is probably not unexpected that there might be no one regulator to point to but, increasingly, it is normal practice for multiple regulators to have different parts of the issue.

Comments

No comments

Log in or join to post a public comment.