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The incoming Irish administration’s programme for government includes a dedicated section on tackling fraud in the financial services sector, showing how much of an issue it has become for policymakers.
The measures outlined in the policy document include collaborating with agencies and industry stakeholders to implement the National Payment Strategy, which will establish a fraud database.
Additionally, the government has said that it plans to explore the feasibility of an SMS scam filter, designed to function like email spam filters to reduce scam messages.
The programme also commits to advocating for national and EU legislation that would restrict online platforms from advertising financial products unless the companies are regulated by their competent national authority.
This initiative aims to combat such things as impersonation fraud, while enhancing consumer protection.
