Cases of fraud linked to open banking payments remain well below the wider industry average, despite the technology’s increased use and the rising rates of scams, new research has found.
In its latest report on financial crime, Open Banking Limited (OBL) has found that fraud affecting open banking payments accounted for just 0.013% of transactions by volume, based on data from March 2024 to September 2025.
This is noticeably lower than than the 0.045% wider payments industry average over the same period.
The report also noted that fraud volumes in open banking have decreased since last year, while among the wider industry it has increased.
Despite this, there has been a noticeable uptick in cases of authorised push payment (APP) scams, which have become the most common category of fraud in the country.
These are cases wherein the victim has been manipulated into willingly authorising a payment to the scammer, generally under false pretences.
“Open banking remains resilient against fraud, with rates consistently below industry benchmarks,” said Christian Delesalle, head of participant support at OBL.
“While we are seeing a slight increase in APP fraud, this is a sector-wide challenge and not unique to open banking. Our data-driven approach and industry partnerships are key to maintaining robust defences as adoption grows.”
