Why fighting fraud matters to banks
Fraud poses a significant threat to European society and economic stability. Criminal networks targeting financial services undermine consumer confidence in banking, deter innovation and investment, and erode the integrity of the digital economy. As the foundation of European finance, banks have a responsibility to protect not just their own operations but the broader economy and citizens who depend on secure, trustworthy financial services.
Effective fraud prevention is therefore not a competitive advantage for individual banks. It is a collective responsibility to safeguard European economic resilience. Tackling fraud at scale requires coordination across the entire ecosystem: banks must share intelligence and align standards with technology companies, law enforcement and international bodies. By strengthening cooperation and breaking down silos, the banking sector can disrupt criminal networks more effectively, protect European consumers and businesses from financial harm, and maintain the trust that underpins a functioning financial system. This whole-of-ecosystem approach is essential to supporting the real economy and enabling sustainable growth across Europe.
EBF engagement at the Global Fraud Summit 2026
The European Banking Federation represented the European banking sector at the Global Fraud Summit 2026 in Vienna. Joining high-level representatives from governments, law enforcement, and international bodies like UNODC and INTERPOL, the EBF actively contributed to the summit’s landmark Call to Action on Combating Fraud. Our participation underscored the banking industry’s commitment to shifting from fragmented national responses to a unified, international strategy, emphasising the need of an ecosystem approach where telcos and online platforms become an active part of the fight against fraud. By sharing our expertise, we helped to shape a global agenda focused on cross-sectoral cooperation to disrupt criminal networks and protect the integrity of the digital economy.
Endorsing the Global PPP Framework & The Whole-of-Ecosystem Approach
EBF is among the 83 organisations endorsing the Summit’s outcome documents, including the Call to Action on Combating Fraud and the Global Public Private Partnership Framework against Fraud. As the digital and fraud landscape evolves, tackling fraud requires a shift from reactive responses to a whole ecosystem approach. Strengthening cooperation between banks, technology companies, authorities and other stakeholders will be essential to better prevent, detect and disrupt fraud.
What does the EBF do for fraud prevention
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Link to a prominent paper on this
