Only 6 out of 10 consumers report payment fraud

Payment fraud is often not reported in Germany. Although nine out of ten respondents who have never experienced payment fraud say they would contact the police if they were to be affected, only 60 percent of those actually affected have filed a report after losing money online. These findings are based on a representative survey conducted by the opinion research institute forsa where over 1000 consumers were surveyed on Visa payment security¹. Overall, one in five (18%) has already fallen victim to payment fraud.

"Reporting payment fraud to the authorities is just as important for combating fraud as notifying the bank," emphasises Tobias Czekalla, Head of Germany at Visa. "New variants of phishing and fake payment requests are constantly circulating." Four out of five respondents (82%) report that they have been exposed to an increasing number of fraud attempts via the internet in the past twelve months. "We are also observing an increase in fraud attempts," says Tobias Czekalla. "Nevertheless, we have succeeded in further reducing the fraud rate for Visa payments in recent years. This protects consumers." Consumers' confidence in their own ability to detect fraud has remained unchanged compared to the previous year. 59 percent say they find it relatively easy to recognise a fraudulent email or website.

Phishing remains a popular scam

Phishing remains the most common scam. Four out of five (79%) respondents have already received fake messages from supposed delivery services, 67 percent from supposed banks. 42 percent have experienced the "grandparent scam" or shock messages, and 37 percent from fake shops. Newer forms include fraud with fake financial and cryptocurrency offers. Almost two in ten (18%) have already encountered an attempt at investment fraud, and more than half (54%) have heard of it. One in two (58%) has also heard of "quishing," a scam using fake QR codes. This involves covering QR codes on parking meters or sending letters or emails with fake QR codes. Around one in ten (8%) has experienced this.

More than half feel well informed by their bank

Almost everyone (92%) expects to be informed by their bank about payment security and current fraud schemes. This expectation is highest among those over 60 (97%). Regular updates on types of fraud (60%) and advice on how to deal with suspicious account activity or debits (58%) are particularly in demand. 54 percent currently feel well informed by their bank.

Security is more important to the majority than convenience

Security remains the most important factor for respondents when making payments. The importance of this aspect increases with age. While 41 percent of 18- to 34-year-olds value security, the figure is 71 percent for those over 60.

With the increasing use of mobile payments in recent years, the sense of security is also increasing: One in two respondents now considers paying with a smartphone or wearable to be secure (50%). In 2023, this figure was 37 percent. Year-on-year, respondents are more sceptical about paying by QR code, as used in supermarket apps, for example: only 37 percent consider this method secure. This is three percentage points less than the previous year.