The Austrian National Bank published data showing that losses from fraudulent cashless payments rose 17.6% in 2025 to EUR 115.4 million across about 351,000 transactions. Fraud remained rare, affecting one in 16,000 transactions, and Austria’s fraud rates were below the European Union average for most payment types. Fraudulent transfers accounted for only 9% of reported cases but generated 78% of total losses, or about EUR 89 million, with an average loss of roughly EUR 3,000. Social engineering caused 83% of transfer losses as victims were manipulated into authorizing payments themselves. Payment service users bore 97% of fraudulent transfer losses, while institutions generally must reimburse unauthorized payments, subject to the circumstances of each case. The Austrian National Bank is expanding fraud prevention and financial education, including joint programs with the police, school-based phishing simulations and guidance on warning signs and responses to payment fraud.
2026-08-20Austrian National Bank (OeNB)
Austrian National Bank reports 17.6% rise in payment fraud losses to EUR 115.4 million in 2025
The Austrian National Bank reported that cashless payment fraud losses rose 17.6% to EUR 115.4 million in 2025, although Austria remained below the EU average for most payment types. Transfers generated 78% of losses, with social engineering behind 83% of transfer losses. The central bank is expanding fraud prevention and financial education initiatives.