TOPIC OF THE DAY : DISCUSSION PAPER ON EBA'S PRELIMINARY OBSERVATIONS ON SELECTED PAYMENT FRAUD DATA UNDER PSD2

You can download the document HERE​

EBA publishes a Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive

17 January 2022

• The EBA has analysed payment fraud data reported by the industry and subsequently aggregated by national authorities covering the years 2019 and 2020.
• This Discussion Paper provides an overview of the preliminary patterns observed across a number of different payment instruments, including some inconclusive patterns, which require additional analysis.
• The EBA invites stakeholders to respond to the questions asked in the Discussion Paper, so as to better interpret fraud data that will be reported in future years.

Questions for discussion within the Working Group:

Question 1: Do you have any views on the high share of cross-border frauds in the total volume of fraud?

Question 2: Do you have any comments on the patters that are outlined in the chapter "patterns emerging from the selected data"?

Question 3: Do you have any potential further explanations as to why, in the specific case of the remote credit transfers, the fraud rate reported by the industry is higher for payments authenticated with SCA compared to payments that are not authenticated with SCA?

Question 4: Do you have any potential explanations why PSUs bear most of the losses due to fraud for credit transfers and cash withdrawals?

Question 5: Do you have any potential explanations why the percentage of losses borne by the PSUs substantially differs across the EEA countries?

Question 6: Do you have any potential explanations why the industry has reported fraud losses as having been borne mostly or significantly by "others"?

Question 7: Do you have any views regarding the observed correlation between the value of fraud and the value of losses due to fraud between H2 2019 and H2 2020?

Question 8: How do you explain the fact that the manipulation of the payer by the fraudster represents a substantial share of the fraudulent non-remote credit transfers authenticated with SCA? How is this fraud type concretely executed by the fraudsters?

Question 9: Do you have any views regarding the types of card payment fraud that have been reported by the industry under the category "issuance of a payment order by the fraudster", sub-category "others"?²