The number of fraudulent transactions involving bank transfers, card payments, and cash withdrawals in the Netherlands rose by 30 per cent last year to approximately 658,000. Data released by the Dutch Central Bank (DNB) reveals that the total financial loss from fraud increased by 22 per cent, reaching 198 million euros. Researchers noted that criminals increasingly manipulate victims into initiating quick, irreversible money transfers. Identity fraud through phishing and the theft of physical payment cards drove the sharp upward trend.
Sharp rise in European bank transfer deception
The most substantial growth occurred within European bank transfers, where fraudulent incidents spiked by 55 per cent to 129,000 cases. This category also accounted for the highest monetary losses, rising to roughly 148 million euros from 121 million euros the previous year. Criminals frequently rely on impersonation tactics, such as posing as family members in distress, manufacturing fake investment opportunities, or pretending to be bank helpdesk employees to trick consumers and businesses into authorizing transactions.
Criminals exploit instant and digital card payments
A large portion of the growth involved instant payments, which transfer funds within ten seconds, alongside international transactions. Fraudsters favor these methods because they make it significantly more difficult for banks to reverse the stolen funds. While bank transfers saw the highest growth in value, card payment fraud remained the most common type of incident, rising by over a quarter to 514,000 transactions. Online purchases using stolen credentials obtained via phishing emails drove this specific increase, pushing card fraud losses to 41 million euros.
Essential safety tips to prevent financial fraud
The Dutch Banking Association and the DNB urge consumers to actively protect their personal details by following five fundamental security rules:
- Keep security codes secret: Never share your PIN, mobile banking identification codes, or verification codes with anyone. Bank employees will never ask for these details.
- Protect physical cards: Ensure no one else uses your debit or credit card. Check regularly that you still have your physical cards, and block them immediately via your banking app if they are lost or stolen.
- Secure your digital devices: Always install the latest security updates for your smartphone, tablet, and computer. Use official banking applications downloaded only from recognized app stores.
- Monitor accounts regularly: Review your current account and bank statements at least once every two weeks to spot any unauthorized or unusual transfers.
- Report incidents immediately: If you suspect you have fallen victim to a scam or have clicked a suspicious link, contact your bank’s fraud desk right away to halt further transactions.
Furthermore, consumers can lower their daily transfer limits within their banking apps to minimize potential losses and enable push notifications to track account activity in real time.
@ anp | NEWS BRAINPORT
