Tech

Big Tech must do more to stop scams, warns Central Bank

Internet firms have to play their part to combat fraud, says deputy governor

Derville Rowland, deputy governor, Central Bank of Ireland: ‘I have a bee in my bonnet about the big platforms.’ Picture: Fergal Phillips

The Central Bank has taken aim at Big Tech platforms over soaring levels of online financial fraud, warning internet companies they need to do more to combat scams that are now costing Irish people hundreds of millions of euro a year.

Derville Rowland, deputy governor in charge of consumer protection, has said the regulator wants to see more on fraud from internet service providers such as Google, Meta and Amazon, noting that “they make a ...