Phishing rampant, with 14% of the world’s phishing emails originating in Germany
BERLIN (Feb. 26, 2025) — The largest economy in Europe, Germany sees the fourth-most fraud cases on the continent, losing €267 billion to cybercrime in 2024 (seventh-most among the European Economic Area’s 30 countries). A new report from BioCatch, which prevents financial crime by recognizing patterns in human behavior, attributes a substantial portion of those losses to phishing emails. Germany saw the second-most phishing attacks in the world last year, with 14% of the planet’s phishing emails originating in the country.
“We’ve observed this relentless onslaught of phishing attacks result in a loss of trust in the internet,” BioCatch Germany Consultant Mathias Schollmeyer said. “Data shows more Germans now see AI as a risk (32%) than recognize it as an opportunity (21%).”
The report, “2025 Digital Banking Fraud Trends in Germany,” also highlights the Federal Financial Supervisory Authority’s (BaFin) focus on investment scams, which now – thanks to the emergence of the crypto space – disproportionately target young people. A recent survey found 60% of Gen Z-ers and Millennials considered social media a reliable source of financial advice, while 43% of social media users had invested in cryptocurrencies.
“While young people now represent nearly three-fourths of all scam victims, it is still older generations that account for the majority of losses,” BioCatch Director of Global Fraud Intelligence Tom Peacock said. “Reports show Baby Boomers lose an average of €18,000 per scam, while Gen Z loses only €400. While a €400 loss may not seem significant, the longer-term impact of not spending the time and resources to investigate these cases could end up being far more costly, as victims lose trust in the greater financial system, the internet, and society.”
Other key report findings:
• Regulation incoming: Instant Payment Regulation (IPR) will require all payment service providers (PSPs) to offer instant payments. BioCatch has already observed a 110% spike in instant payment fraud among its European customers, correlating with an increase in scams.
• Fraud overwhelmingly digital: Nearly 70% of Germany’s fraud losses originate on digital channels.
• Quishing (QR code phishing) on the rise: Fraudsters placing fake QR codes on parking meters and charging stations, and in fake bank notifications have lured victims into scanning those QR codes, inputting sensitive information, and downloading malware that infects their devices.
Click here to view the complete report.
###
About BioCatch:
BioCatch stands at the forefront of digital fraud detection, pioneering behavioral intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, 34 of the world's largest 100 banks and 257 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch's Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 94 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.
###
PR contact:
Mac King
BioCatch senior comms manager
Mac.King@BioCatch.com
