Spanish banks using BioCatch have cut fraud attempts by 23% in Q1 2025, the RegTech claimed.
This drop is notable as 73% of Spanish banking leaders reported an increase in fraud at their institutions over the same period, according to a BioCatch study.
BioCatch’s technology has helped reduce third-party account takeover fraud by 52%. However, social engineering scams remain a persistent challenge, now accounting for 58% of reported fraud cases in Spain.
BioCatch director of global fraud intelligence Thomas Peacock said, “As third-party fraud has grown more difficult to execute in Spain, bad actors have pivoted, mastering the art of socially engineering their victims to willingly authorize and execute fraudulent payments on the criminals’ behalf. In 2025, this is undoubtedly the No. 1 problem facing banks in Spain.”
The “2025 Digital Banking Fraud Trends in Spain” report warns of rising card fraud and malware attacks, with Android devices being heavily targeted as they make up nearly three quarters of Spain’s mobile banking sessions.
Peacock said, “This reinforces the need for a proactive malware detection strategy rather than reactive approaches.
“Isolating the behaviours seen across multiple malware strains can help banks get ahead of the problem and reduce their dependence on the quick identification of individual malicious packages. With behavioral solutions, banks can identify malware sessions even when fraudsters modify or the bank has never before seen the malware’s packaging.”
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