European Card Fraud - Spain

Spain Persists in Steadying Card Fraud Loss

Spain has remained steadfast and consistent in its fraud loss profile and unlike many other countries is seeing an incremental decrease in card fraud losses, which is no mean feat especially in the CNP space. Overall losses have taken a minor dip (down from €89.9M to €89.8M), which although small does buck the trend across Europe. Despite increasing demands such as tokenisation fraud, e-wallet manipulation and sophisticated card scams, Spain manages to protect itself well from these threats.

Despite the positive trends on the graph, Spain’s losses are still high at €89.8M. They face increasing threats from digital payments channels, as well, since adoption rates of instant payments are very high (93% according to the recent FICO Scam Survey). Spain is facing significant threats through online fraud attacks such as vishing, phishing, and compromised credentials. They work closely with Europol to tackle these threats and shut down operations; notably in 2024 they disrupted a large phone scam operation, as well as a fraud network spanning Europe and South America. Despite the increasing threat to the country’s consumers, these operations demonstrate their commitment to disruption and prosecution.