Strategy to reduce the risk of wholesale payments fraud related to endpoint security
Responding to the increasing threat of wholesale payments fraud, the CPMI developed a strategy to reduce the risk of wholesale payments fraud related to endpoint security.
The strategy is composed of seven elements designed to work holistically to address all areas relevant to preventing, detecting, responding to and communicating about fraud. These elements describe what should be done at a high level, recognising the need for flexibility when approaching each element. The strategy’s primary aim is to encourage all relevant stakeholders (including operators and participants of payment systems and messaging networks, their respective supervisors, regulators and overseers) and help focus industry-wide efforts to reduce the risk of wholesale payments fraud and, in doing so, support financial stability.