To address the problem of obtaining reliable, comparable data on payment fraud for all EU countries, the European Banking Authority (EBA) is seeking to establish guidelines on reporting requirements for payment fraud statistics.

To that end, the EBA has launched a public consultation for the draft guidelines, which will be implemented under the revised Payment Services Directive (PSD2). Data on payment fraud in the EU is at present difficult to obtain, not reliable, and not comparable across member states. The guidelines should make it possible to achieve an accurate picture of payment fraud in the EU, including its size, components and development over time, and should increase the security of retail payments in the EU.

The guidelines are aimed at payment service providers and competent authorities. The consultation runs until 3 November 2017 and those wishing to participate can do so through the EBA's webpage.