Expert Group on Payment Fraud-related Topics
Money travels fast and fraudsters operate in real time. Fraud prevention and detection tools not only have to be fast but should also be able to follow fraud across borders and allow relevant parties to join forces in fighting it. To support industry efforts in this area, the Euro Banking Association (EBA) launched the Expert Group on Payment Fraud-related Topics (EGPF) in 2020 to consider a pan-European fraud intelligence approach.
The objectives of the EGPF are to analyse minimum requirements for enabling a pan-European fraud intelligence approach and to define what fraud information and data could be exchanged as part of this approach. To facilitate the work on these matters, the EGPF looked into the development of a common vocabulary in relation to payment fraud-related topics, to serve in a pan-European context.
EBA Fraud Taxonomy: a pan-European approach to payment fraud categorisation
The EBA Fraud Taxonomy developed by the EGPF enables – for the first time – a pan-European approach to payment fraud categorisation with the aim to contribute to the combatting of payment-related fraud at a pan-European level. It is applicable to both payment fraud and card fraud. Implementation of the EBA Fraud Taxonomy could help payment service providers (PSPs) and intelligence-sharing initiatives to better combat payment fraud for the following reasons:
- The taxonomy can play a role in facilitating intelligence and data sharing across national borders.
- It provides a common pan-European vocabulary for fraud types to improve fraud reporting, prevention and detection.
- It supports PSPs in developing effective fraud prevention campaigns for their customers.
The EBA Fraud Taxonomy by the Euro Banking Association is licensed under a Creative Commons Attribution 4.0 International Public License (CC BY 4.0 license).
Version 4.0 (June 2023) of the EBA Fraud Taxonomy can be requested here.
Change cycle 2023/2024 applicable to the EBA Fraud Taxonomy
To ensure that the EBA Fraud Taxonomy evolves in line with latest insights provided by fraud experts on how to effectively categorise fraud types, it is subject to a review and updating process. Changes to the EBA Fraud Taxonomy are agreed once annually.
In October 2023, the EBA launched the change cycle 2023/2024 with a call for change requests. To submit a change request and to learn about the details of the review and updating process, please refer to the change request form available for download below.
Kindly note the deadlines to submit change requests:
- 8 January 2024: deadline to submit change requests pertaining to the ‘initiator’, ‘method’ and ‘modus’ sections of the EBA Fraud Taxonomy.
- 2 April 2024: deadline to submit change requests pertaining to the ‘labels/tags’ section.