The Central Payments Fraud Information Registry (CPFIR) serves as a centralized database for recording and monitoring payment fraud incidents across various platforms. By collecting detailed information on fraudulent activities, CPFIR enables regulatory bodies and financial institutions to analyse trends, identify emerging threats, and develop effective countermeasures.
The centralized approach facilitates timely sharing of information, allowing stakeholders to implement preventive measures and enhance security protocols. CPFIR's role is pivotal in creating a collaborative environment where data-driven strategies are employed to combat payment-related fraud, thereby strengthening the overall integrity of the financial system.
