UK Leads Drop in Fraud Losses

Following a frustrating increase in 2018 — caused primarily by an explosion of data compromise ‘bust out’ events — much of Europe has once again turned the tide on fraudsters, achieving a combined 2% overall reduction.

At the forefront of this performance is the United Kingdom, which posted the largest single reduction within the report, reducing fraud losses by £52 million since 2018. This is an astonishing number and a testament to the UK banks.

Conversely, France and Italy top the tables for the largest value increases, at €8m and €6m respectively. Many other countries show larger percentage increases, but with significantly lower associated value. These values offset much of the European performance but were not significant enough to drive a cumulative net increase.