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EU study: how online financial fraud works
In short
A new study commissioned by the European Commission describes how financial fraud works on online platforms. Investment scams and romance scams are the most common in Europe and grow the fastest.
Six types of fraud
- Investment scams
- Romance scams
- E-commerce scams
- Employment and collaboration scams
- Unexpected gain scams
- Disaster relief scams
What does this mean for your company?
Fraud exists on all kinds of online services. The study also shows which features fraudsters exploit, for example advertising systems and recommender systems. For companies this means: teams should know the common patterns before something happens. The study does not assess whether individual platforms comply with the rules.
Frequently asked questions
Who produced the study?
Open Evidence and Spark Legal and Policy Consulting, commissioned by the European Commission.
Which types of fraud are most common?
According to the study, investment scams and romance scams. Both grow the fastest in Europe.
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See AI training and consulting →Source: European Commission, Digital Strategy, 20 October 2026
As of 20 October 2026