Results 4,481-4,500 of 36,118 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: It is only after I put that on the record that the Department made it clear for the first time, after being asked numerous times, and after the Minister responded in the Dáil that it appeared it was not possible to introduce provisions other than those that were laid down in the directive, but that only applies to unauthorised push payments.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: I am sorry, will Mr. Palmer explain that last point again?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Which options, just for clarity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: I just want to clarify this. The Commission has proposals out today. Mr. Palmer is saying it is interesting the Commission has not recommended dealing with this but that we can do it domestically. The question was whether the domestic legislatures have the power to do this. I asked this because we are fighting a battle with two hands tied behind our back with APP fraud. There are loads...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: If that is the case, the Department did not say that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Okay. The point here with PSD2 is that it dealt with unauthorised push payments and it was a maximum harmonisation measure, meaning you cannot go beyond it and you have to do what is in the directive. Authorised push payments are different. The directive is silent on these. It does not deal with them. There is no directive on authorised push payments. There is no maximum harmonisation...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Does Mr. Palmer accept the view of the Department of Justice, that is, it is his Department that maintains lead policy in the area of authorised push payments fraud?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: It is good to hear that the Department of Finances is of a similar view to that of the BPFI and others in relation to the shared database. The Department of Finance takes the lead in this policy area. Does Mr. Palmer believe-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Regarding the Department of Finance, I understand that things move to other Departments or authorities as crimes are committed. However the Department has lead policy in the area of authorised push payments. I gave the statistics earlier on. I make the point that we are fighting a losing battle but in my view, we are fighting it with both arms behind our back. Will Mr. Palmer point to me...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: I have been arguing that we should domestically legislate for confirmation of payee and the reimbursement scheme. That argument has not been taken on board by the Government. I understand that the Government sets policy and the Department is there to advise. We now have the directive, which is going to do both those things I have been looking for.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Yes, a regulation that is going to do three of the things I have been seeking for the last year, namely, a compensation mechanism for authorised push payment fraud victims, a confirmation of payee scheme to be set up right across Europe, including here in Ireland and to force the State to enter into a fraud-share database. Does Mr. Palmer welcome the proposals from the European Commission?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: What proportion of payments in Ireland are instant payments?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Confirmation of payee is badly needed. It is needed in this country more than any other country. Why? Because instant payments in the State is a tiny fraction of transactions. In other states they are over 90%. While the SEPA has this big feature, it only applies to less than 10% of payments in the State. Confirmation of payee is required to protect all of the rest of us who do not use...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Can I explain this to Mr. Palmer again? I am sorry, I do not mean “explain” and that was the wrong way to put it. In other European jurisdictions that do not have confirmation of the payee, the majority, in some cases 93%, of their payments are instant payments and they have this covered by SEPA. In Ireland, instant payments make up approximately 3% so we have the biggest gap...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: Is there any appetite for the Department to move ahead in regard to confirmation of payee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: It was the Department of Justice that gave me the figures. As Mr. Palmer said, the figures show a reduction in 2022 but an explosion in 2021, which was related to Covid, with more people at home doing online shopping, who were easier targets for fraud. One thing is very clear. If we look over a longer horizon, this is a losing battle. It is going up and up. We have had people from the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: I am not going to challenge Mr. Palmer's numbers at this stage because we are running out of time, but the €10 million is an underestimation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Authorised Push Payments Fraud: Discussion (Resumed) (28 Jun 2023)
Pearse Doherty: And the Department of Justice.