The U.S. ranks as the country most affected by online fraud, with a fraud risk score of 64.2. However, France is also heavily impacted and the country experiences one of the highest financial losses due to fraud, with $1.8 billion in total fraud value.
These findings stem from a new study by ZeroBounce, who analysed fraud rates, total fraud value, and online fraud share to determine which countries are most affected by online fraud.
The research examined key fraud metrics, including cross-border fraud, domestic fraud, and the number of transactions per card. The findings highlight the nations most vulnerable to digital financial crimes and provide insight into how fraud risks vary across different economies.
The top ten most fraud prone nations were identified as:
- U.S.
- France
- United Kingdom
- Ireland
- Denmark
- Estonia
- Luxembourg
- Malta
- Austria
- Netherlands
As to why the U.S. tops the ranking of the countries most affected by online fraud, with a score of 64.2; this is because the country experiences the highest fraud rate with 83 percent of fraud cases occurring online. Unlike most European nations, fraud in the U.S. is largely domestic, with 68 percent of scams happening within the country.
France takes second place, with a fraud score of 54.8. The country sees 79 percent of fraud occurring online, contributing to its total fraud value of $1.8 billion. The UK ranks third, with a fraud score of 50.2. Fraud accounts for 75 percent of all cases, with half of these incidents involving cross-border transactions. The UK also has a high volume of card transactions, increasing the risk of fraud exposure.
Ireland ranks fourth, with a fraud score of 41.2. It has the highest online fraud share, at 85%, meaning nearly all fraud incidents occur digitally. Denmark follows in fifth place, with a fraud score of 34.1. High transaction volumes per card make Denmark an attractive target for cybercriminals.
Estonia ranks sixth, with a fraud score of 32.9. The country has one of the highest online fraud shares at 84 percent, meaning most fraudulent transactions occur digitally. Luxembourg takes seventh place, with a fraud score of 30.7. The country has the highest number of cards per inhabitant (4.66), making it more vulnerable to fraud risks. Luxembourg sees 72 percent of fraud cases happening online, and its total fraud value is estimated at $304 million.
Malta follows in eighth place, with a fraud score of 28.1. The country sees 81% of fraud cases happening online. The total fraud value in Malta is $401 million, making it one of the more affected small nations in Europe.
Austria takes ninth place, with a fraud score of 26.0. The country sees 76 percent of fraud cases occurring online. Austria also has a high number of transactions per card, with an average of 6,518 transactions per card annually. The Netherlands closes the top ten with a fraud score of 25.3. Dutch consumers conduct an average of 12,236 transactions per year, making the country highly active in digital
