Euro Banking Association makes EBA Fraud Taxonomy publicly available to provide pan-European framework for fraud combatting

The Euro Banking Association (EBA) announced today that it has made publicly available the EBA Fraud Taxonomy, a pan-European taxonomy for payment fraud types. The taxonomy has been developed by the Association’s Expert Group on Payment Fraud-related Topics to support collective and individual fraud combatting efforts in the European payments ecosystem.

The EBA Fraud Taxonomy provides a simplified and straightforward framework to describe fraud scenarios related to all kinds of payments, including card transactions. It helps banks and other payment service providers to harmonise the categories they use for the description of fraud types.