Survey Reveals 80% of Spanish Consumers Have Received Scam Attempts in 2024

Analytics company FICO has released its 2024 survey results on real-time payments (RTP), revealing that 80% of Spanish consumers have received a text, email, or phone call they believed to be part of a scam, a 4% increase from the previous year. This reflects the growing trend of RTP-related scams in Spain, with both the amount and frequency of losses on the rise.

The survey indicates that a higher number of Spanish consumers reported losses in 2024 compared to 2023. Notably, the number of losses exceeding €5,000 also increased. While 67% of victims lost €500 or less, 7% were scammed for more than €5,000, up from 4% in 2023.

On the positive side, Spanish consumers demonstrated an above-average willingness to heed scam warnings and refrain from sending payments after being warned. In 2024, 23% of consumers in Spain reported a loss to their bank, 4% more than in 2023. Additionally, 74% are very (46%) or somewhat (28%) satisfied with their bank's scam resolution process. Only 7% of consumers sent payments after being warned of a scam by their bank, which is half the global average.

The survey also reveals that 44% of consumers in Spain believe they are responsible if they fall for a scam, which is lower than the global average of 53%. However, consumers also feel that banks share some responsibility: 19% blame the receiving bank, while 20% hold the originating bank accountable. In 2024, 73% of Spanish consumers said banks should refund scam victims always (43%) or most of the time (30%).

Spanish consumers are calling for better fraud detection systems from their banks. 63% of consumers ranked this as the top or second most impactful action their bank could take. Another 38% of consumers ranked providing more warnings about known or emerging scams as the top or second-most impactful action their banks could take to protect them.