The 2025 joint report by EBA and ECB confirms that strong customer authentication remains effective, but new fraud types are emerging, with total fraud value reaching €4.2 billion in 2024 across the European Economic Area.
The European Banking Authority (EBA) and the European Central Bank (ECB) published the 2025 edition of their joint report on payment fraud, covering data from 2022 to 2024. The report confirms that the legal requirement for strong customer authentication (SCA), introduced in 2020, has contributed to reducing fraud levels.
In 2024, the total value of payment fraud in the European Economic Area (EEA) was €4.2 billion, up from €3.5 billion in 2023, with the fraud rate remaining stable at approximately 0.002% of total transaction value. Fraud related to card payments was notably higher when transactions involved recipients outside the EEA, where SCA is not mandated.
Transactions verified with SCA were generally less susceptible to fraud, especially for card payments. However, new fraud types are emerging, particularly manipulation of payers, which require additional mitigation strategies. The report highlights that fraud losses vary by payment instrument, with credit transfer losses at €2.2 billion (up 16%) and card payment losses at €1.329 billion (up 29%) in 2024.
Most fraud losses in 2024 were borne by payment service users, mainly through scams tricking users into initiating fraudulent transactions. The report emphasizes the importance of continued vigilance and adaptation of security measures to address emerging threats.
Legal reporting requirements under PSD2 and ECB regulations mandate payment service providers to report fraud data semi-annually, supporting ongoing monitoring and policy development. The EBA and ECB will continue to publish fraud data to inform supervisory actions and policy decisions.
