Oireachtas Joint and Select Committees

Wednesday, 12 July 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Authorised Push Payment Fraud: Central Bank of Ireland

Mr. Colm Kincaid:

We do not but we believe, and as I said in my opening remarks, that one of the gaps we see at the moment is that we do not have a whole-of-system, joined-up engagement across the State agencies and others. We cited the example in France. That in itself is not necessarily even as comprehensive as we would wish it to be. We definitely are of the view that the involvement of those technology companies is critical to this. We have a very strong working relationship with ComReg, for example. We had a very strong working relationship with them through issues such as the migration exercise, etc.m, but, as the Deputy said, in comparison to what we see in the banking and payments sector, there is a need for similar proactivity by the social media and technology companies.