By PAUL O’DONOGHUE, Senior Correspondent
TOP MEPs along with representatives from Google and industry are confirmed as speakers for the Q2 AML Intelligence ‘Compliance Council’ roundtable at the European Parliament on June 23.
The session in Brussels in collaboration with Regina Doherty MEP will focus on fraud. In particular, it will examine how criminals are using AI to ‘industrialise’ scams, the impact on businesses and how the EU is responding.
A theme that emerged from ‘European Anti-Financial Crime Summit 2026’ in April was that the conversation around fraud is hollow without the social media giants at the table. In the UK almost 70pc of fraud cases reported by Lloyds customers started on Meta platforms, the bank revealed. Meta’s own figures show that 10pc of profits – billions in dollars – are generated from adverts promoting scams.
Speakers will include:
- Regina Doherty MEP, EPP
- Lidia Pereira MEP, EPP
- Paul O’Brien, Head of Public Affairs at Bank of Ireland
- Liz Halpenny, Legal Counsel for Google Global Affairs
- Filip Verbeke, Co-Founder & CCO at Reform
Stephen Rae, AML Intelligence’s Co-Founder and Publisher, will moderate the panel.
The event in Brussels caters to AFC and Fraud leaders. It is open to members of the AML Intelligence Compliance Council, as well as selected invitees.
Those interested in attending the EU roundtable on June 23, or joining the Compliance Council, can contact Tom Downes at tdownes@amlintelligence.com.
“Fraud is a scourge, costing EU consumers and companies billions of euros every year,” said Stephen Rae.
“The Compliance Council roundtable is focused on solutions, including the most effective ways for the EU to target criminals using new technologies.”
Customs and VAT scams cost the EU tens of billions annually, while an estimated 1 in 4 Europeans has fallen victim to fraud.
In November the EU agreed a landmark deal to hold social media companies liable for financial fraud.
Ms Doherty, who has consistently pushed for the EU to take action on the issue, said at the time: ““For too long, platforms have profited from misery. Meta has even admitted that around 10% of its profits, roughly 16 billion US dollars, came from scam-related activity, a staggering figure that shows just how deeply this problem runs.”
Meanwhile, it’s been revealed almost 70pc of fraud cases reported by Lloyds Banking Groupcustomers started on Meta platforms.
Those in their late 20s and early 30s are the most at risk from scams on Facebook, Instagram and WhatsApp, data gathered by the bank shows.
At the weekend, Elizabeth Ziegler, Lloyds’ fraud prevention director, said 68 per cent of fraud reports from customers originated on a Meta platform.
“Customers tell us they feel upset, embarrassed and shaken,” Ziegler said. “This is deeply personal and it can take a long time to recover.”
Concert, festival and sporting event ticket scams are the most prevalent. Under-25s, including children under 18, are most at risk from ticket fraud, according to the bank. Fake tickets for Taylor Swift and Peter Kay gigs, Liverpool Football Club matches and Alton Towers were among the scams reported.
Earlier reports based on Meta’s own data shows up to 10pc of profits – billions of dollars – are generated on the back of scam advertising.
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