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. Patrick Casey:

I engaged with ComReg a number of months ago on this topic. Based on my understanding at the time, ComReg traced phone calls of a fraudulent nature and was able to block those through the telephone companies and engagement with payment service providers. Text messages were more challenging because they can come through a chain from a foreign country. The text can still present as being an Irish text. From a technological perspective, the blocking of that has proved to be more challenging because of the chain and the capacity to block its source and the break in the chain.

A number of months ago, we were involved with putting ComReg in touch with a number of the retail banks to try to look at that matter, which has proven to be a challenge.