DNB: Payment fraud fight needs strategic focus

DNB's exploratory examination in early 2026 revealed that all seven surveyed banks, payment institutions, and electronic money institutions demonstrate high commitment in combating payment fraud.

These institutions have dedicated teams actively working to protect victims and identify perpetrators, implementing various preventative measures.

However, the study highlighted that fraud management is largely organized at an operational level.

Institutions primarily focus on processing and assessing signals, then taking immediate action, rather than establishing clear, strategically founded objectives.

This operational approach means many decisions are made reactively, contrasting with the one institution observed that successfully reduced fraud by formulating and pursuing explicit strategic goals.

The DNB's findings underscore a significant gap between proactive operational engagement and a comprehensive, strategically driven framework for fraud prevention, suggesting a need for a more integrated approach across the sector to enhance effectiveness against rising payment fraud.

Payment fraud, including WhatsApp, bank helpdesk, investment, and dating scams, often involves customers being deceived and fraudsters using 'straw men' or 'money mules'.

Banks combat this by detecting suspicious transactions, setting daily limits, and implementing four-hour waiting periods for limit changes.

They also run public awareness campaigns and prevent their services from aiding fraudsters.

New European legislation (PSR/PSD3) will oblige banks to compensate consumers for bank helpdesk fraud losses under specific conditions.

Payment institutions, facilitating everyday transactions, prevent fraud through customer due diligence, monitoring refund requests, and acting against rogue online shops, sometimes offering refunds for disputed payments.