Mr. Colm Kincaid:

I would say 100% that we have a leadership and co-ordination role to play in it. We discharge that through our engagements with the Department and the BPFI and the supervision of the entities we regulate. We have a retail payments forum where, within the context of payments, we look to have that co-ordination through bringing in users of payments. When we speak about APP fraud, and indeed payment fraud more generally, the issue is that the other commercial actors are not in the regulated payments sector. They are the other firms that we have been speaking about but insofar as we are talking about activity within the payments system and the safety of the payments system, the Central Bank 100% has a leadership and central role to play in that.

In talking about a wider need for co-ordination, I do not in any way seek to dilute the role we have to play in banking and payments. However, with regard to fraud, there are other actors outside of the banking payment sector that we need to bring in as well.