Chair – Paul Benda (American Bankers’ Association)
The Task Force was launched by the IBFed Board to look at measures taken or to be taken to tackle growing Fraud and Scams worldwide. The Task force focuses on digitally-enabled fraud or scams based on social engineering, where organised, criminal syndicates deceive retail bank customers into making a payment. The Task Force will deliver recommendations by the end of 2025.
The objectives of the Task Force are:
1/ Identify and showcase the role and responsibilities of other actors in the fraud chain, such as telecom operators, big techs and online platforms.
2/ Identify and compare different national regulatory approaches to combatting scams as well as specific regulatory initiatives and assess their (non-) effectiveness.[2] Advocate with relevant policymakers at international level on the importance to adopt an ecosystem approach in regulation and supervision.
3/ Showcase to the external world and our clients what the banking industry is doing to combat fraud and scams targeting individuals customers, such as education campaigns and collaboration with other key stakeholders.
4/ Engage with other sectors’ international representative associations to explore opportunities to collaborate on an ecosystem approach to combatting scams. Explore the possible benefits of IBFed’s participation in relevant international initiatives and alliances.
5/ Share information between members on what banks are doing to combat fraud and scams. Learn from each other, raise awareness and exchange information structurally and systematically. Compare different approaches and identify opportunities to adopt best practices.
6/ Influence the GASA Global Scams Survey to adopt consistent methodology across the world to facilitate meaningful comparison of scam trends. Assess whether there are other reputable surveys on the issue that we should be aware of.