If it smells phishy, it probably is!
3 min Reading time
Phishing & Online Fraud in Belgium: Key figures for 2024
A study by Febelfin in collaboration with research agency Indiville shows that phishing messages were again sent on a large scale by cybercriminals in 2024.
Online fraud is constantly evolving, and increasingly developed techniques are being used to trap people. Young people in particular appear to be especially vulnerable. Ongoing awareness-raising is therefore of great importance.
What does the Belgian population know today about online fraud? Where are the biggest pitfalls, and which forms of fraud are currently most common? How do Belgians feel about security steps when making online purchases? What initiatives are being taken by the sector?
Read all about it in this storytelling.
The most important figures at a glance:
- Phishers continue to strike hard: Although banks detect, block, or recover 75% of fraudulent transactions resulting from phishing, it remains a lucrative technique. In 2024, around €49 million was stolen through this form of fraud.
- The knowledge about phishing needs improvement: Did you know that 8% of the Belgian population has never heard of phishing? Among young people, this figure is even more concerning: 23% don’t know what it means.
- Fewer Belgians share their bank codes: 9 out of 10 Belgians would never share their codes, while 2% would do so without hesitation. Among young people, 23% might share their bank codes if asked via email, SMS, or another digital channel, after carefully reviewing the message and website. However, 5% of young people would share their codes without checking anything. Although this figure is still too high, it marks a clear improvement: from 13% in 2022 to 5% in 2024.
- Fewer Belgians are sending their bank cards: The vast majority (95%) would never send their bank card. Among young people, the figure remains alarming: 13% would be inclined to send their bank card. This percentage is unchanged from 2023.
- Good news: Belgians are better informed about what to do when they fall victim to phishing. 64% of victims knew immediately what steps to take or where to seek help. Another 6% didn’t know themselves but were able to get good advice from someone in their network.
- Other forms of online fraud (such as help request fraud, investment fraud, bank and computer helpdesk fraud, etc.) are still not well known among the Belgian population.
- Too many people still fall into the trap of ‘money mules’, especially young people: 14% of young people would share their bank card and PIN for money, compared to 5% of the general population. Regarding the awareness of this form of fraud, nearly 4 in 10 Belgians know what it entails, while among young people, only 24% do. Moreover, 45% of young people have never heard of it.
- Extra security steps during online purchases (such as fingerprint authentication, use of a card reader, etc.) are fortunately considered standard by many Belgians. However, 1 in 5 Belgians sees these steps more as a burden than protection. Among young people, this perception is even stronger (30%).
- The financial sector continues to invest in targeted anti-fraud initiatives. For example, an accessible flyer was launched with essential information for victims of online fraud (in collaboration with local police, SAAMO, and CAW), and banks are gradually implementing the Verification of the beneficiary's name.
