ECB and EBA publish joint report on payment fraud

ECB and EBA publish joint report on payment fraud

 

The European Central Bank (ECB) and the European Banking Authority (EBA) today published a joint report on payment fraud. The report assesses payment fraud data reported semi-annually by payment service providers across the European Economic Area (EEA) for a variety of payment instruments, such as credit transfers and card payments. (...)

• Total value of fraud across main payment instruments at €4.3 billion for 2022 and €2.0 billion for first half of 2023
• Report confirms effectiveness of strong customer authentication requirements, in particular for protecting against card fraud
• Card fraud risk lower for transactions within the European Economic Area, owing to mandatory application of strong customer authentication (...)