Bank of Portugal Launches Digital Fraud Monitoring Platform
Banco de Portugal has presented a new Platform dedicated to monitoring and combating digital fraud in the Portuguese financial sector.
The creation of this Platform responds to a strategic priority of the banking regulator: to tackle the rise in digital fraud and ensure the protection of financial stability and the smooth functioning of national payment systems.
The Platform’s main objectives are:
- The exchange of up-to-date information on digital fraud practices and trends;
- The detection of new fraud patterns and their warning signs;
- Strengthening coordination between prevention, detection and response;
- Establishing a national framework for joint analysis and action;
- Identifying regulatory and technological gaps requiring intervention;
- Aligning the national strategy with European guidelines in this area.
Chaired by the Governor of the Bank of Portugal, the Platform brings together a diverse range of participants from the public and private sectors, including public administration bodies, supervisory authorities, criminal investigation bodies, consumer protection organisations, business associations, the National Cybersecurity Centre, payment service providers and payment system operators.
This initiative represents a significant step towards building a more secure and resilient financial system, at a time when the rapid digitalisation of financial services demands increasingly coordinated responses to protect citizens and businesses.
For more information, please contact us at rvr@ccsllegal.com
[Photograph by Rodion Kutsaiev, available at unsplash.com]