Fraud: by 2025, more than half of all credential thefts will be carried out using technology
Among the techniques most commonly used by criminals are phishing and spoofing. Fraudulent phone calls and text messages are also widespread.
In 2025, 750 reports of fraud were received by the Bank of Italia: this represents a 2 per cent increase compared with 2024. This figure, contained in the ‘Report on Complaints from Customers of Banks and Financial Institutions’ published by the Bank of Italy on 24 June 2026 (see ‘Il Sole 24 Ore’ of 25 June), stems in just under half of the cases from allegations the theft of account access credentials, authentication codes for payment transactions or the victim’s identification details to take out loans or open accounts without their knowledge.
From smishing to spoofing
When it comes to credential theft, in 57 per cent of cases, criminals used social engineering techniques, including smishing, vishing and phishing. Smishing is the practice of sending fraudulent text messages are sent via text message, purporting to be from trustworthy organisations such as banks or public institutions. If the scam takes place via a phone call in which the fraudsters pose as bank staff, law enforcement officers or representatives of other trusted organisations, it is known as vishing. In the case of phishing, on the other hand, the scam takes place via the web or email, often involving the sending of malicious links. In 60 per cent of the reported scams, spoofing was also used, that is, the falsification of identity by disguising an email address, telephone number or website to present itself as a trustworthy source.
The growing prevalence of fraud is also confirmed by the ‘Report on the Activities of the Banking and Financial Ombudsman’, published by the Bank of Italy on 24 June 2026: in 2025, disputes relating to fraudulent use rose by 21 per cent and came to account for 37 per cent of the cases handled by the ABF. Reports relating to phishing, spoofing, smishing and vishing are the most frequent.
Other types of fraud detected
On other occasions, victims have made payments to fraudsters under false pretences. Fake credit offers; bank transfers using a forged IBAN; commercial fraud, such as the non-delivery of goods purchased online; bogus investment offers, mostly relating to transactions in cryptocurrencies – these are the scams referred to in the ‘Report on Complaints from Customers of Banks and Financial Institutions’ published by Palazzo Koch.
Reports of attempted scams involving the misuse of the Bank of Italy’s name and logo – with the aim of gaining credibility – have, however, doubled: there were 60 such cases in 2025. These included AI-generated photos and videos featuring the Governor.
