5.1      Reducing the risk of wholesale payments fraud related to endpoint security: CPMI discussion note

On 28 September 2017, the Committee on Payments and Market Infrastructures (CPMI) published a consultative document, in the form of a discussion note, on strategy on reducing the risk of wholesale payments related to endpoint security.

The aim of the strategy is to help focus industry efforts to tackle the increasing threat of wholesale payments fraud related to endpoint security. The strategy sets out seven elements designed to address all areas relevant to preventing, detecting, responding to and communicating about wholesale payments fraud. It stresses the importance of understanding the full range of risks and calls upon all relevant public and private sector stakeholders to take a holistic and co-ordinated approach.

Comments are requested by 28 November 2017. After the consultation, the CPMI plans to develop guidance on each of the seven elements to help operators and participants of payment systems and messaging networks as well as their respective supervisors, regulators and overseers improve endpoint security. The proposed guidance will be developed by early 2018.