Open Banking Limited (OBL), the UK body responsible for overseeing and advancing open banking standards across the financial services ecosystem, has published its latest assessment of financial crime trends within the sector.
The new report, Financial Crime within Open Banking Journeys, offers a comprehensive review of fraud activity between March 2024 and September 2025. It analyses fraud typologies and trends, compares open banking data with broader industry statistics, and highlights areas where fraud remains concentrated, notably in authorised push payment (APP) incidents.
The findings show that open banking continues to demonstrate resilience, with fraud volumes and values declining year-on-year despite industry-wide increases. The report also emphasises the importance of industry data sharing and tools such as Transaction Risk Indicators (TRIs) in detecting and preventing fraudulent behaviour. It also flags emerging threats including AI-driven fraud, SIM-swap attacks and social engineering.
Data for the publication was drawn from ASPSPs representing more than 60% of UK open banking payments, offering strong visibility into ecosystem performance.
In H1 2025, fraud accounted for just 0.013% of open banking transactions by volume, compared with 0.045% across the broader payments market. APP fraud constitutes 74% of fraud cases within open banking and typically involves higher transaction values than the industry average.
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