Both the design of payments systems and the way participants use them can affect risk. For example, because a depository institution’s ACH and check systems may not be integrated, stop payments on checks may not work as intended, thereby increasing the risk that fraud may slip through the system.
Let me begin by thanking the Minister of Economy and Finance Daniele Franco and the Governor of Banca d’Italia Ignazio Visco for their presence and messages: as they have underlined, the Italian Presidency of the G20 and its ambitious agenda “People, Planet, Prosperity” is an important opportunity to support the transformation occurring in our economies and to ensure that innovative tools and technologies will become the basis for a more resilient, sustainable and greener growth.