Payment Fraud Statistics

Reporting to the Central Bank of Ireland under Article 96(6) of PSD2

Article 96(6) of PSD2 provides that EU member states ‘shall ensure that payment service providers (PSPs) provide, at least on an annual basis, statistical data on fraud relating to different means of payment to their competent authorities’ and that the ‘competent authorities shall provide the European Banking Authority (EBA) and the European Central Bank (ECB) with such data in an aggregated form’.

The EBA has published a Guideline in this regard that sets out the requirements applicable to PSPs and national competent authorities (NCAs) such as the Central Bank of Ireland (Central Bank). However, as the EBA Guideline relates to collection of payment  fraud statistics from 2019 onwards, it was decided that as an interim measure NCAs would organise the reporting of payment fraud data for 2018 at a national level.

The extent of the data collection by NCAs for 2018 was left by the EBA and the ECB to those authorities’ own discretion, given that some EU member states already collect a significant amount of payment fraud data, while others currently collect less.

In this regard, the Central Bank decided to seek a limited amount of payment fraud data for 2018 from PSPs. Full details in this regard can be found in the relevant compilation notes  and the template for completion by reporting institutions.  Comments and suggestions for improvement/clarification of these compilation notes are always welcome and should be submitted by e-mail to fraudstats@centralbank.ie.