“IBAN check will not be enough to prevent bank fraud related to instant payments”, said Dr Joachim Schmalzl, member of the Executive Board of the German Savings Banks Association (DSGV), at a conference organised on Tuesday 28 February by the European Savings and Retail Banking Group (ESGB).
Dr Schmalzl welcomes the European Commission’s legislative proposal of October 2022 for the widespread deployment of instant euro payments (see EUROPE B13051A16).
“There is little innovation in...