Identity theft is the most common fraud committed in Spain and Madrid is the community that registers the most cases – Noticias

At the moment, fraud has become one of the main concerns of Spanish companies as it entails, for the most part, annual losses of more than 1 million euros. This is evident from the report on the Status of Fraud in Spain 2019-2020, presented by the Association of Spanish Businesses Against Fraud (AEECF).

And, according to the study, there has been an increase in fraud attempts in the country over the past year, with identity theft being the most commonly reported type of fraud, followed by phishing attacks and document fraud.

Regarding the areas where the most fraudulent activity is registered, 70% of the people interviewed by the AEECF highlight the Community of Madrid as the main focus, followed by Andalusia. For their part, 80% say that compared to the previous year, Madrid is also the municipality with the highest increase in fraud in the last year. although the Valencian community has seen a remarkable increase in this type of crime.

Regarding online fraud, 78% of employees surveyed affirm that concerns about this type of crime have increased over the past three years. A trend that, according to the association, will continue to grow as customers and consumers opt for electronic transactions.

It is a report which, as Rita Estvez, President of the AEECF explains, offers a global vision of the situation we find ourselves in with regard to fraud in Spain. Presentation of the trends, challenges and developments of this type of crime in the country over the last year. This study is an integral part of our mission to become the reference community and the premier collaborative platform for anti-fraud in the company.

Anti-Fraud Strategies

Technology is undoubtedly the great ally for fraud prevention, the report explains. For this reason, more than half of the companies surveyed (56%) confirm that improving fraud detection capabilities through the use of technology is the strategy that best describes the initiatives they are pursuing. The second most widely used anti-fraud measure is to enrich the information that the company makes available to its users in order to have a better analysis and evaluation of each customer, which enables them to carry out preventive tasks. 70% of respondents agree that sharing sectoral or cross-sectoral data reduces fraud rates by 25% to 50%.

Future goal: prevent fraud

The majority of respondents, 39%, believe that the biggest challenge in avoiding irregular activity is developing increasingly sophisticated fraud prevention processes that don’t compromise the customer experience.

In preparation for this study, the AEECF asked members of the association about the current status of their anti-fraud departments. Data collected between companies in consumer finance (39%), banking (22%), telecommunications (17%), auto finance (11%) and microcredit companies (11%).


The AEECF was founded as a non-profit organization in 2014 to respond to the need to pioneering the creation of a collaboration platform in Spain, the main aim of which is to coordinate a Spanish anti-fraud system. The AEECF realizes that fighting fraud is everyone’s job and that only by working together is it possible to face a reality that causes significant losses to businesses and individuals every year.

It currently brings together nearly 30 employees from the four main sectors at the national level: telecommunications, finance, auto finance and consumer credit, all of which are affected by various forms of fraud.

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