Payment Fraud Data Published by EBA & ECB

The report assesses payment fraud reported by the payments sector across the European Economic Areas (EEA) during 2022 and the first half of 2023.

Highlights include:

• Payment fraud totalled €4.3bn in 2022 and €2.0bn in the first half of 2023;
• Most payment fraud (by value) was related to credit transfers and card payments;
• 7.31 million card transactions using cards issued in the EU/EEA in the first half of 2023 were fraudulent;
• Card fraud mainly occurred involving remote transactions; and
• In the first half of 2023, payment service users (PSU) bore over 80% of total fraud losses for credit transfers, 45% for card payments, and 51% for cash withdrawals.

Payment firms should review the latest EU data as part of remaining informed and reactive to new and ongoing fraud threats and vulnerabilities.

✅ Learn more about Plenitude’s Fraud Practice and how we are helping clients combat fraud more effectively while reducing fraud losses and operational costs.