European Card Fraud - Netherlands

A Card Fraud Reduction Leader – But Is a Surge Coming?

Since 2021, the Netherlands has recorded a 43% decline in card-related fraud losses, reflecting a positive trend in the value and volume of losses. However, this is contrasted by significant and rising fraud activity in non-card payment channels, driven largely by social engineering and scam tactics.

According to the latest EBA Fraud Reporting, the Netherlands reports: 

• The highest fraud volume in Europe for credit transfers (276,000 cases; €162 million in losses)
• The highest volume (1.2 million) and value (€61 million) of direct debit fraud 
• The second-highest volume of cash withdrawal fraud, surpassed only by Bulgaria 

These figures suggest that fraudsters in the Netherlands are shifting toward channels with lower friction and weaker controls, exploiting the same social engineering tactics seen across all other European countries.

What makes the Netherlands particularly notable is the disproportionately low level of reported card fraud, which may not fully reflect the reality. Underreporting is a serious concern, with research indicating that 82% of scam victims do not report their losses—implying the true scale of card fraud may be significantly understated.

To counter this, Dutch banks have a clear opportunity to adopt a more integrated, enterprise-wide fraud prevention strategy. This includes:

• Connecting insights across customer channels
• Investing in proactive scam detection, communication and education
• Driving awareness campaigns to reduce underreporting and better protect consumers