Central Banking

CPMI plans response to growth of wholesale payments fraud

The Bank for International Settlements, Basel
The CPMI is based at the Bank for International Settlements in Basel
Photo: Ulrich Roth

Wholesale payments fraud is becoming “increasingly sophisticated”, demanding a more comprehensive approach to security, says a new report from the Committee on Payments and Market Infrastructures (CPMI).

The report, published on September 28, proposes a series of actions for stakeholders in wholesale payment systems to improve security at “endpoints” – defined as the point in space and time at which payment instructions are exchanged. In physical terms, this includes devices such as computers

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