Workshop 6, Session 6.1: Cooperation between Banks & Regulators with Pallavi Kapale, Bank of China - Global Anti-Scam Summit Europe 2024

Date of Event:  2024-06-25

Event:  Global Anti-Scam Summit Europe 2024

Chairs:

• Lynn van Meijgaard, Policy Advisor - Online Fraud at the Dutch Banking Association (NVB)

• Robert Harris, Product Director of Feedzai

Panelists:

• Pallavi Kapale, Bank of China

• Ben Woodside, Manager, Policy at Payment Systems Regulator

• Guillermo De La Fuente, Co-Chair Vendor and Services Providers Group, Global Legal Entity Identifier Foundation (GLEIF)

• Markus Metschitzer, European Commission/DG FISMA

Lynn van Meijgaard, Policy Advisor for Online Fraud at the Dutch Banking Association (NVB), and Robert Harris, Product Director of Feedzai, chaired this session, which focused on how banks and regulators can work together to combat scams and fraud across various industries.

The panelists included Pallavi Kapale from the Bank of China, Ben Woodside, Manager of Policy at the Payment Systems Regulator, Guillermo De La Fuente, and Markus Metschitzer from the European Commission/DG FISMA.

Ben Woodside emphasized the importance of cooperation between banks and regulators. He highlighted that understanding the practical implications of policies is crucial for regulators and that engaging with firms can help shape effective policies. Woodside mentioned the development of a new reimbursement requirement in the UK, which involved extensive engagement with banks to understand operational constraints and consumer impacts.

Markus Metschitzer discussed the challenges and importance of information sharing for combating fraud, particularly social engineering fraud. He mentioned the European Commission's proposals for data sharing between payment service providers (PSPs).