Circumstances of fraud linked to open banking funds stay properly under the broader trade common, regardless of the know-how’s elevated use and the rising charges of scams, new analysis has discovered.
In its newest report on monetary crime, Open Banking Restricted (OBL) has discovered that fraud affecting open banking funds accounted for simply 0.013% of transactions by quantity, based mostly on information from March 2024 to September 2025.
That is noticeably decrease than than the 0.045% wider funds trade common over the identical interval.
The report additionally famous that fraud volumes in open banking have decreased since final yr, whereas among the many wider trade it has elevated.
Regardless of this, there was a noticeable uptick in circumstances of authorised push cost (APP) scams, which have grow to be the commonest class of fraud within the nation.
These are circumstances whereby the sufferer has been manipulated into willingly authorising a cost to the scammer, usually below false pretences.
“Open banking stays resilient towards fraud, with charges constantly under trade benchmarks,” mentioned Christian Delesalle, head of participant help at OBL.
“Whereas we’re seeing a slight enhance in APP fraud, it is a sector-wide problem and never distinctive to open banking. Our data-driven strategy and trade partnerships are key to sustaining strong defences as adoption grows.”
