French Parliament Approves Creation of National Fraudulent IBAN Database
Legislative move aims to bolster measures against banking fraud following substantial financial losses in recent years.
The French National Assembly unanimously approved a proposal on Monday to create a centralized national database of fraudulent bank account numbers (IBANs), introduced by deputy Daniel Labaronne.
This new legislative measure is intended to enhance the country’s ability to combat banking fraud, which has seen significant financial repercussions for both individuals and businesses.
In 2023, fraudulent payment activities resulted in losses amounting to €1.195 billion, with approximately €150 million attributed to scams involving false IBANs and €364 million related to check fraud.
Supporters of the proposal emphasized that the sharing of dubious IBANs would facilitate prompt identification and blocking of fraudulent transactions.
The legislation not only aims to combat banking fraud more effectively but also seeks to strengthen the legal framework of the National Register of Irregular Checks (FNCI).
It would enable bankers to access this centralized database in a manner similar to retailers when a customer attempts to cash a check.
While the debates surrounding the proposal were largely consensual, members of the National Rally (RN) voiced their opposition, criticizing a recent decision by the Paris correctional court that imposed a five-year ineligibility on Marine Le Pen due to public funds misappropriation.
This legislative move reflects ongoing efforts within the French government to address the growing concern of financial fraud amidst evolving digital payment landscapes.
This new legislative measure is intended to enhance the country’s ability to combat banking fraud, which has seen significant financial repercussions for both individuals and businesses.
In 2023, fraudulent payment activities resulted in losses amounting to €1.195 billion, with approximately €150 million attributed to scams involving false IBANs and €364 million related to check fraud.
Supporters of the proposal emphasized that the sharing of dubious IBANs would facilitate prompt identification and blocking of fraudulent transactions.
The legislation not only aims to combat banking fraud more effectively but also seeks to strengthen the legal framework of the National Register of Irregular Checks (FNCI).
It would enable bankers to access this centralized database in a manner similar to retailers when a customer attempts to cash a check.
While the debates surrounding the proposal were largely consensual, members of the National Rally (RN) voiced their opposition, criticizing a recent decision by the Paris correctional court that imposed a five-year ineligibility on Marine Le Pen due to public funds misappropriation.
This legislative move reflects ongoing efforts within the French government to address the growing concern of financial fraud amidst evolving digital payment landscapes.
