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Open Banking Payments & Fraud Monitor – June 2026 Edition

07 July 2026
Understanding fraud trends as Open Banking continues to grow

The Open Banking Payments & Fraud Monitor is OBL’s twice-yearly assessment of fraud within Open Banking payment journeys.

Building on our Financial Crime in Open Banking Journeys publications first published in December 2024 and December 2025, the Monitor provides a consistent view of fraud trends within Open Banking payments and compares them with wider UK payments industry benchmarks. It brings together data from account providers representing more than 60% of Open Banking payment volumes to help the industry understand how fraud risks are evolving as adoption grows. As Open Banking becomes an increasingly important part of the UK payments landscape, maintaining trust and confidence in payment journeys remains essential. The Monitor supports that goal by providing evidence-based insight into fraud trends, emerging risks and areas where the industry can continue to strengthen prevention efforts.

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Key findings
  • Open Banking fraud rates remain below wider industry benchmarks by volume. During 2025, around one in 6,000 Open Banking payments were fraudulent compared with around one in 2,500 payments across the wider payments industry.
  • Fraud volumes increased during Q1 2026, returning towards historic levels following a low point in Q1 2025. However, the data suggests this growth is occurring alongside continued growth in Open Banking payment volumes.
  • Authorised Push Payment (APP) fraud remains the dominant fraud, accounting for more than two-thirds of reported Open Banking related fraud cases
  • Investment fraud remains one of the largest identified APP fraud categories by value, reflecting the significant financial impact these scams can have on victims.
  • Fraud is evolving in sophistication. Account providers report increasingly complex scam techniques, including impersonation scams, phishing and smishing attacks, fake refund scams and emerging fraud journeys designed to exploit newer digital payment methods.
  • Variable Recurring Payments (VRPs) continue to show lower fraud rates than single immediate payments, while app-authenticated journeys continue to show lower fraud rates than browser-authenticated journeys.
  • Collaboration and data sharing continue to play an important role in fraud prevention, with tools such as Transaction Risk Indicators (TRIs) showing potential to improve fraud detection while reducing unnecessary friction for genuine payments
Open Banking at scale

Open Banking now supports more than 19 million active user connections and over 40 million payments[1] every month in the UK. As adoption continues to scale, understanding how fraud risks evolve and ensuring effective protections remain in place becomes increasingly important for the industry.

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A comprehensive assessment of fraud trends within Open Banking payment journeys, benchmarked against wider UK payments industry data and informed by account providers representing more than 60% of Open Banking payment volumes.

[1] API performance stats – Open Banking

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