The UK Leads the Pack for Second Year Running

Whilst Europe has enjoyed a sizable reduction in fraud loss for 2020, this was driven by two countries in particular that accounted for a reduction of €90 million. This is the United Kingdom with a £46M (€69M) reduction and Denmark with a €20M reduction. In an incredibly challenging year, only 5 of the 18 countries contained within this study achieved a reduction, which makes the achievement of the UK and Denmark all the more impressive. 

At the other end of the scale, Norway experienced a sizable attack throughout 2020 which has resulted in them posting the largest increase of the countries studied. An impressive multi-industry response to control this new attack is already showing very positive signs of improvement. 

France, Poland and Germany continue to show ongoing increases in losses, with €6M, €5M, and €3M increases, respectively. Many other countries have shown remarkable resilience in controlling the emerging threats of the pandemic, with Turkey, Spain and the Czech Republic all showing a relatively flat trend through 2020.