Expert Group on Payment Fraud-related Topics

Money travels fast and fraudsters operate in real time. Fraud prevention and detection tools not only have to be fast but should also be able to follow fraud across borders and allow relevant parties to join forces in fighting it. To support industry efforts in this area, the Euro Banking Association (EBA) launched the Expert Group on Payment Fraud-related Topics (EGPF) in 2020 to consider a pan-European fraud intelligence approach.

The objectives of the EGPF are to analyse minimum requirements for enabling a pan-European fraud intelligence approach and to define what fraud information and data could be exchanged as part of this approach. To facilitate the work on these matters, the EGPF looked into the development of a common vocabulary in relation to payment fraud-related topics, to serve in a pan-European context.

EBA Fraud Taxonomy: a pan-European approach to payment fraud categorisation

The EBA Fraud Taxonomy developed by the EGPF enables – for the first time – a pan-European approach to payment fraud categorisation with the aim to contribute to the combatting of payment-related fraud at a pan-European level. It is applicable to both payment fraud and card fraud. Implementation of the EBA Fraud Taxonomy could help payment service providers (PSPs) and intelligence-sharing initiatives to better combat payment fraud for the following reasons:

  • The taxonomy can play a role in facilitating intelligence and data sharing across national borders.
  • It provides a common pan-European vocabulary for fraud types to improve fraud reporting, prevention and detection.
  • It supports PSPs in developing effective fraud prevention campaigns for their customers.

The EBA Fraud Taxonomy by the Euro Banking Association is licensed under a Creative Commons Attribution 4.0 International Public License (CC BY 4.0 license).

Version 5.0 (June 2024) of the EBA Fraud Taxonomy can be requested here.

Change cycle 2024/2025 applicable to the EBA Fraud Taxonomy

The EBA Fraud Taxonomy is reviewed on an annual basis with the support of fraud fighters from financial institutions across Europe. The aim of this process is to ensure the taxonomy continues to fit the changing needs of fraud experts in Europe and beyond.

In October 2024, the EBA will launch the change cycle 2024/2025 with a call for change requests. The change request form required to submit a change request will be published in October 2024.

EBA Fraud Taxonomy version 5.0

A pan-European fraud taxonomy: Do you speak fraud? (Article about the EBA Fraud Taxonomy in Journal of Payments Strategy & Systems, Volume 18 Number 1, Henry Stewart Publications)

Terms of Reference for the Expert Group on Payment Fraud-related Topics