Open Banking Fraud Remains Significantly Lower Than Industry Average, But Sophisticated Scams Are Rising, Says OBL

Open Banking Limited (OBL) has released its latest report on financial crime, revealing that fraud linked to open banking payments remains well below the wider industry average, even as new types of scams are emerging. The report, which analyses data from March 2024 to September 2025, shows that fraud affecting open banking payments accounted for just 0.013% of transactions by volume and 0.020% by value in the first half of 2025. This compares favourably to industry averages of 0.045% and 0.027% over the same period. While overall fraud rates in open banking have fallen since last year, the report highlights a recent uptick driven mainly by authorised push payment (APP) scams. These scams, which often involve manipulating individuals or businesses into sending money to fraudsters, are becoming more sophisticated and reflect a wider trend across the financial sector. Key findings:

• Fraud volumes in open banking have decreased since last year, while industry-wide fraud has increased.
• Authorised push payment (APP) scams now account for 74% of all open banking fraud, with APP fraud at a rate of 0.013% of open banking payment volumes.
• The recent rise in open banking fraud is mainly driven by APP scams, which often involve manipulating individuals or businesses into sending money to fraudsters.
• OBL’s ongoing collaboration with banks and payment providers continues to strengthen fraud prevention and detection.

Christian Delesalle, Head of Participant Support at OBL, commented:   “Open banking remains resilient against fraud, with rates consistently below industry benchmarks. While we are seeing a slight increase in APP fraud, this is a sector-wide challenge and not unique to open banking. Our data-driven approach and industry partnerships are key to maintaining robust defences as adoption grows.” OBL’s report also points to the growing use of artificial intelligence by criminals to target victims, and the importance of banks and payment providers working together to stay ahead of new threats. The organisation is calling for continued collaboration and innovation to protect consumers and businesses as open banking becomes more widely adopted.