On 22 October 2019, the Committee of Payments and Market Infrastructures (CPMI) published a toolkit to support central banks in reducing the risk of wholesale payments fraud related to endpoint security in their institutions and jurisdictions.
The CPMI has developed a strategy with seven elements designed to address all areas relevant to preventing, detecting, responding to and communicating about wholesale payment fraud. The toolkit identifies steps that central banks could take to operationalise the CPMI’s strategy. Those steps are through: promotion, initial stocktaking of current arrangements, engagement with stakeholders, development of an action plan, and monitoring progress. The CPMI has provided key documents used by itself and its members in their own operationalisation at each step.
The CPMI refers to the toolkit as a ‘living document’ and expects it to evolve as central banks, operators, participants, and other stakeholders progress and their experiences and practices develop further.