increased by a quarter in 2023 compared to 2022 – from €100m 1 / 5 bis - central bankers'speeches to circa €126m. 1 fraud was highest in credit transfers and card payments, with the biggest growth seen in money remittance. this echoes trends across europe, with a joint eba / ecb report in august 2024 revealing that fraud losses are highest in credit transfer and card payments across the european economic area ( eea ). 2 financial crime, of course, recognises no borders. and so, given the scale of the challenge which regulators and law enforcement agencies face, collective action – a harmonised response - is imperative. which is why the eu's aml package is so important – it provides the framework and the agency ( amla ) through which we will collectively meet the challenge head on. the aml package is by design technology neutral. it applies to traditional banking / financial models equally as it applies to crypto - asset service providers ( casps ), crowdfunding platforms and intermediaries. it obliges all types of firms that come within its ambit to comply with a set of aml / cft rules that have now been harmonised across europe. how these firms comply with the rules is up to them, via traditional aml / cft compliance programmes or by using regtech tools. what's essential is that the means used are effective, and that such effectiveness can be demonstrated to supervisors. this will be the case both for the 40 obliged entities that will be directly supervised by amla and the firms supervised by national aml authorities. 3 not waiting for the wind to change, the eu has addressed a number of emerging risks in the package. to give some examples, the use of ai is acknowledged under the package, with an obligation on firms to ensure that human oversight is applied to decisions proposed by ai tools that may impact customers in certain areas. additionally, details of virtual ibans which are linked to other payment accounts will have to be recorded in member states'bank account registers. this will allow law enforcement to trace any funds being moved by such virtual ibans. finally, the package introduces the concept of information sharing partnerships. through these, credit and financial institutions will be enabled to share information relating to high risk customers, subject to important guardrails including data protection assessments. the lack of an ability to share such information has long been pointed to as a real weak link in the system,

additional 150 staff this year, bringing our staff numbers to about 1650. as we expand, we will begin the move to our new headquarters on north wall quay at the end of 2016. the layout of the new building has been designed to promote a collaborative working environment, which will facilitate the teamwork that is so critical to the delivery of the bank ’ s multi - faceted mandate. in parallel, we expect to complete the design of new organisational and reward models in the next few months. a greater level of openness about how the bank conducts its activities can help improve the level of public trust in our organisation : we believe that people will be more confident that we act independently and in the public interest if they have greater insights and understanding about what is going on inside the bank. to this end, we have recently announced plans to publish the minutes of the meetings of the central bank commission. while information on the supervision of regulated firms and market - sensitive financial operations activities cannot be disclosed, the publication of these minutes should contribute to greater understanding of our corporate governance, internal debates and the initiatives we take to deliver on our mission. second, we have also released data on our salary structures and pay scales, which will be updated on an annual basis. furthermore, by providing greater details on our human resources policies, we aim to enhance understanding about the central bank as a public organisation and prospective employer. in summary, during my tenure as governor, my aim is to build on the progress that has been achieved in recent years in recasting the central bank as an efficient and effective central bank and financial regulator. the staff of the central bank can be proud of these achievements, which were recently recognised by our international peers through the central bank of the year award from centralbanking. com and the central banking journal. peer reviews provide another important benchmark for our performance : an independent assessment of five recent external peer reviews of the central bank ’ s regulatory functions is available on our website and recognises the central bank ’ s consistent adherence to the highest international standards over the last several years. bis central bankers ’ speeches