European Banking Authority consumer trends report identifies payment fraud, indebtedness and de-risking as top issues for EU consumers

The European Banking Authority published the ninth edition of its biennial Consumer Trends Report for 2024/25, identifying payment fraud, indebtedness and de-risking as the most important issues affecting consumers in the European Union. The assessment draws on input from national authorities across all 27 EU Member States and other stakeholders, and for the first time incorporates the EBA’s Retail Risk Indicators, published separately since 2022. Payment fraud is presented as the most significant consumer issue, with new fraud types such as social engineering manipulating payers into sending funds while adapting methods to evade strong customer authentication requirements under EU law. Indebtedness is linked to a marked rise in ‘Buy-Now-Pay-Later’ and other small, fast, accessible short-term credit, with inadequate creditworthiness assessment and weak pre-contractual disclosure highlighted as key drivers. De-risking is associated with increasing consumer difficulty in opening and retaining payment accounts, including refused onboarding and offboarding, reportedly affecting migrants, refugees, homeless people, cross-border workers and individuals with poor financial histories. In response, the EBA will consider which actions to take in 2025/26 to address the issues identified and further enhance consumer protection across the EU.