1. Analysis of payment system safety
The Payments Forum's Working Group on Safety monitors developments in the area of payment system safety. In summary, fraud in retail payments has showed a trend-based decline over the past years, although there was a limited increase in 2015. Whereas total losses due to fraud stood at EUR 81.8 million in 2012, they were EUR 17.9 million in 2015. This represents only a fraction of the value of all payment transactions registered in the Netherlands, which totals well over EUR 5 trillion, but risks will always remain. For example, phishing is difficult to combat, with human behaviour being the weak link. Fraud may well gain further ground, as fraudsters extend their field of operations from banks to other parties, possibly with the help of generic malware.
2. Investigating and addressing specific risks
The Working Group also investigates specific risks. For example, in 2015 it devoted extensive attention to identity fraud – meaning that data or access codes are stolen for use in payments – which is likely to increase on the back of intensifying digitisation. Likewise, the Working Group considered the privacy risks of using payments data, and the Payments Forum commissioned a survey into the views of the Dutch in this regard in the second half of 2015. The Working Group discusses how specific risks in the area of payments can be better addressed as and when needed.
3. More information and practical tips on paying safely
More information and practical tips on paying safely are available on the websites which are mentioned below. These are website from members of the Working Group on Safety or associated parties. They explain what you yourself can do to avoid fraude. They also explain what to do in case you have lost money via payment fraud.