EPC kicks off malware platform pursuit to boost fraud sharing capabilities

The European Payments Council (EPC) has begun the search for a Malware Information Sharing Platform (MISP) to aid real-time fraud information sharing.

A public request for a proposal has been published to seek an independent service provider to supply the MISP. The deadline for applications is 28 May.

This development comes off the back of an announcement in February this year by the EPC, when the council stated it would provide this search as a part of a strategy for tackling fraud risks in the context of the Single Euro Payments Area (SEPA) payment schemes.

According to the EPC, the MISP platform will offer direct browser access by all payment scheme participants. The EPC – a scheme manager – is responsible for tackling fraud risks in the context of the schemes.

The European Central Bank – the overseer of the SEPA scheme – previously suggested the EPC should create an early warning and sharing system for fraud cases, as well as broadcasting fraud-linked information to all participants of the scheme. The ECB highlighted the publication of quarterly qualitative dashboards as one way to go about this.

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