Co-chaired by the BEUC - The European Consumer Organisation and the EACB, a multi-stakeholder group composed of associations of banks, payment services providers, their clients and several public authorities, under the auspices of the Euro Retail Payments Board, produced a Report with recommendations on how to tackle on fraud related to retail payment.
🔑 The report identifies four "gamechangers" for effective fraud prevention and mitigation:
➡ Cross-sectoral collaboration and shared responsibilities beyond the payment industry.
➡ Sharing fraud insights and data across sectors.
➡ Supervisory enforcement and cooperation at the EU level.
➡ Product design that prioritizes consumer protection
You can download it here: https://www.ecb.europa.eu/paym/groups/erpb/shared/pdf/21st-ERPB-meeting/Report_from_the_ERPB_Working_Group_on_fraud_prevention.pdf
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