Workshop 6, Session 6.2: Cooperation Between Banks - Global Anti-Scam Summit Europe 2024.

Date of Event:  2024-06-25

Event:  Global Anti-Scam Summit Europe 2024

Moderator:

Meral Ruesing, Euro Banking Association

Panelists:

• Alexandre Pluvinage, ING Belgium

• Kristof Browaeys, KBC Bank

• Douglas Lockhart, WSBI-ESBG

Introduction and Collaboration Initiatives by ING Belgium

Alexandre Pluvinage shared insights into ING Belgium's collaborative initiatives against fraud. Starting in 2011 after a series of fraud incidents, ING Belgium initiated the first discussions with the Belgian Banking Federation (Febelfin) despite initial skepticism. Over time, this led to the formation of a working group focused on cybersecurity and fraud prevention.

Kristof Browaeys on Collaboration and Operational Impact

Kristof Browaeys highlighted the evolution of collaboration from a focus on internet banking security to broader fraud prevention strategies. He emphasized the importance of regular meetings among banks and external stakeholders, such as law enforcement, to address operational challenges and enhance fraud detection capabilities.

Douglas Lockhart on Pan-European Cooperation

Douglas Lockhart underscored the importance of leveraging existing infrastructures like the Malware Information Sharing Platform (MISP) for sharing best practices across European banks. He advocated for standardized approaches like the EBA Fraud Taxonomy to facilitate data sharing and improve fraud detection efficiency across borders.

EBA Fraud Taxonomy and Future Directions Meral Ruesing introduced the EBA Fraud Taxonomy, developed by the Euro Banking Association to standardize fraud reporting and data sharing among payment service providers (PSPs) across Europe. The taxonomy aims to provide a common language and framework for describing fraud incidents, enhancing cross-industry collaboration, and aligning with EU regulatory requirements.

Q&A Session

During the Q&A, participants discussed the complexities of fraud classification models, comparisons between different international frameworks, and the potential expansion of the EBA Fraud Taxonomy to include wallet fraud and other emerging threats.