Payments: fraud rates are low, but 'broken phone scams' are on the rise

Italy's central bank reports fraud rates remain low overall (10 cases per 100,000 transactions) but instant SEPA transfers show elevated risk (12 per 100,000) despite a 38% drop in fraud volumes since H1 2025. IBAN verification requirements under the Instant Payment Regulation are driving the decline, though cross-border e-commerce and remote transactions remain higher-risk vectors.

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