Tánaiste and Minister for Finance, Simon Harris TD, today met with the main pillar banks and their representatives to discuss the roll-out of the new Investment Account framework and the emergence of new online harms to children.
The Tánaiste raised with representatives from AIB, Bank of Ireland and Permanent TSB his deep concern over revelations that child abuse sites are using paywalls to avoid detection.
He stressed the need for Government and financial institutions to work more closely together on this issue, as well as the wider need to combat online fraud.
Speaking following the meeting, the Tánaiste said:
“I used today’s meeting with representatives of our main pillar banks to raise the issue of the serious revelations involving paywalls and the protection of our children.
“The revelations today that child abuse material is increasingly being hidden behind paywalls are deeply disturbing and represent a deliberate attempt to evade detection and accountability.
“Financial institutions and payment providers have an important role to play in helping disrupt these criminal networks and protecting children online.
“We agreed that Government, financial institutions, the gardaí and technology companies must do all it can to work together to disrupt these criminal networks.”
Investment Account
The meeting also focussed on plans by the Tánaiste to introduce a new Investment Account in the upcoming Budget.
The Tánaiste emphasised that his objective is to make investing simpler, clearer and more accessible for ordinary people, while helping households achieve better long-term returns on their savings.
He said he intends to bring the National Financial Literacy Strategy to Government shortly, which he said is key to the introduction of a retail investment culture in Ireland.
The Tánaiste added:
“Today, I was very pleased to have a detailed discussion with the banks and their representatives about our plans to introduce a new investment account in the Budget.
“Ireland needs a modern savings and investment framework that gives people more choice and helps their money work harder for them over time.
“The Investment Account has the potential to simplify investing for ordinary households and support greater long-term financial resilience.”
