Damage caused by online fraud increases

In 2019, we performed more than 1 billion IBAN Name Checks. With these, we check whether an account holder’s name matches the IBAN entered for online payments from most major banks in the Netherlands. In over 53 million cases, we issue a warning in the online banking environment that name and IBAN do not match and money may be transferred to the wrong person.

Some of these will be fraud attempts. People may ignore their bank’s IBAN Name Check warning and transfer money anyway. As a result, people unfortunately fall victim to criminals, as was in the news yesterday and today. Possibly, in doing so, the IBAN Name Check warnings in online banking were seen but ignored or the scammers had already given an explanation.

There are more ways to transfer money online than through the banks’ online banking apps. And those do not yet include the IBAN Name Check. That is why we are working on innovative new payment methods, which do let you check directly whether you are paying to the right person. With the aim of making online payments more personal, easier and safer!

Did you know that: we performed more than 1 billion checks in 2019, returning the ‘no match’ warning over 53 million times? In doing so, around a third of people made the payment anyway. Don’t be naive and take warnings from your bank seriously. Make sure you are sure the payment details are correct.