German Banking Industry Committee on the amendment to the Telecommunications Act

The German Banking Industry Committee (GBIC) has submitted a position paper as part of the current consultation on the amendment of the Telecommunications Act. In addition to the important goal of network expansion, the GBIC is calling for urgently needed measures to prevent fraud to be incorporated into law.

Specifically, this involves giving telecommunications companies the legal power to consistently block spoofing calls, use SMS content firewalls, and securely exchange fraud-related data with banks and other relevant parties.