What does the Open Banking Payments Fraud Monitor cover?

The Open Banking Payments Fraud Monitor is a report published by Open Banking Limited (OBL) that assesses fraud trends within Open Banking payment journeys and benchmarks them against wider UK payments industry data. Its June 2026 edition draws on account providers representing more than 60% of Open Banking payment volumes, which is what makes it useful as a sector-level reference rather than a single-institution view. If you want to understand where fraud is showing up in UK Open Banking payments and how that compares with the broader payments market, this is the document to start with.

What the report covers

According to the description on openbanking.org.uk, the monitor provides:

• A comprehensive assessment of fraud trends within Open Banking payment journeys — that is, the end-to-end flow of a payment initiated through Open Banking rather than through a card or traditional bank transfer.
• Benchmarking against wider UK payments industry data, so Open Banking figures can be read in context instead of in isolation.
• Input from account providers representing more than 60% of Open Banking payment volumes, giving the findings substantial coverage of actual payment activity.

Why the data source matters

The 60%-plus coverage figure is the key detail for judging how much weight to give the report. Fraud statistics are only as good as the population they are drawn from; a sample covering the majority of Open Banking payment volume is a stronger basis for industry-level conclusions than a handful of participants would be.

The benchmarking element is equally important. A raw number of fraudulent Open Banking payments tells you little on its own — what matters is how that rate moves over time and how it sits relative to other UK payment methods. The monitor is structured to answer that comparison.

Who it is for

The report is aimed at anyone who needs a factual picture of fraud in Open Banking payments:

• Account providers assessing their own fraud exposure against sector norms.
• Third party providers (TPPs) and fintechs building or operating payment initiation services.
• Risk, compliance and policy teams that need a citable industry reference.
• Analysts and journalists covering UK payments fraud.

How to use it

1. Go to openbanking.org.uk and locate the Open Banking Payments Fraud Monitor – June 2026 Edition item on the homepage.
2. Open the report and read the fraud trend findings for Open Banking payment journeys first.
3. Use the wider UK payments industry comparison to contextualise those findings — this is where the report adds value beyond internal data.
4. Check the stated coverage (account providers representing more than 60% of Open Banking payment volumes) before quoting any figure, so the scope of the data is clear.

What it does not do

The monitor is a fraud assessment, not a compliance guide or a set of rules you must follow. It reports and benchmarks trends; it does not prescribe controls for individual firms. For the rules governing how Open Banking payments are initiated, the relevant material sits in the standards and customer experience guidelines published separately by Open Banking.

Context: fraud in a growing ecosystem

The June 2026 edition sits alongside OBL's reporting that UK Open Banking has passed 1 billion payments and 100 billion API calls. Fraud monitoring becomes more consequential as payment volumes grow, because the same percentage rate translates into a larger absolute number. That is the backdrop against which the monitor's benchmarking is most useful — not as a one-off snapshot, but as a recurring measure to track as the ecosystem scales.