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Mamo TCV Advocates: The European Banking Authority (EBA) has released an opinion that assesses emerging trends in payment fraud and proposes regulatory measures to address these challenges. In our latest Payments Insights, we discuss the EBA's publication which emphasises the necessity of improving security measures for instant payments, applying Strong Customer Authentication (SCA) consistently across all transaction types, and facilitating cross-border collaboration to manage the increased fraud risks associated with international transactions. The EBA’s Opinion also outlines several regulatory recommendations, including updating fraud risk management frameworks, adjusting liability rules to better protect consumers, and reinforcing supervisory processes. These measures are designed to increase the resilience of the financial sector for the benefit of the end-consumer within the payments sphere.
Payments Insights #2 –
EBA Opinion on Payment Fraud and Possible Mitigants Banking & FinanceFinTech

Payments Insights #2 –
EBA Opinion on Payment Fraud and Possible Mitigants

On the 29th of April 2024, the European Banking Authority (the ‘EBA’) published an opinion (the ‘Opinion’) in which it assesses payment fraud data and identifies new types and patterns of payment fraud while developing proposals to mitigate them. In this second Payments Insight we highlight some of the most important key considerations emerging from the EBA’s Opinion. The power of the EBA to issue this Opinion stems from Articles 1(5), 8(2)(g), 9(4), and 16a(1) of Regulation (EU) No 1093/2010. These provisions empower the EBA to promote a uniform approach to the regulation and supervision of innovative financial activities. Additionally,…
Sarah Zerafa Lewis and Mario Mizzi
30th April 2024