In a Pandemic, UK Led European Fraud Reduction

2020 has been an incredibly challenging year across the globe, with a rapidly changing mix of customer demands, a volatile staffing and servicing model, and a need to drive transformation quicker than ever before. Despite this ever-changing set of priorities and demands, several countries across Europe have significantly improved their fraud prevention performance in 2020, achieving a second consecutive year of reduction. 

The standout performance was once again achieved by the UK with a 7% reduction of £46M (close to €70M of relative value), with Denmark also posting a sizable reduction (~€21M of relative value). Unfortunately, continued increases in France, Germany, Poland and a significant attack in Norway have led to an additional €33M of fraud losses, leaving Europe with a net reduction of €62M. 

Whist it is incredibly positive for so many countries to have controlled and even achieved significant gains through such a challenging period, more needs to be done across the other European states to drive a truly collaborative reduction in all areas.  

Increase in Fraud YoY

Decrease in Fraud YoY

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