A study by SAS shows that 65 percent of Belgian consumers surveyed are afraid of becoming a victim of fraud. Worldwide, this average is 75 percent.

The SAS Global Fraud survey was conducted among 13,500 consumers, including 500 from Belgium. It is striking that the results of Belgian consumers differ in some respects from those of the other countries examined. For example, 51 percent of Belgian consumers said they had experienced no more fraud compared to previous years, while globally this figure is slightly lower at an average of 46 percent.

The Belgians are also a little more cautious when it comes to data exchange. While an average of one in five respondents worldwide is very willing to share personal data with service providers to prevent fraud, in Belgium this figure is only 15 percent.

Belgian consumers also have different experiences regarding the type of (attempted) fraud. 33 percent have already experienced a scam designed to make them believe they still owe money. According to Belgian consumers, fraud in the form of attempts to obtain bank details is the most common and most fraud attempts take place via email.

Cautious Belgians

The research also shows that as many as 85 percent of Belgian respondents are now more wary of fraud than in previous years. Almost 60 percent of them have been victims of fraud at least once. Worldwide this is significantly higher, even at 70 percent.

The Belgians’ cautious approach to fraud is also reflected in the numbers. 40 percent said they had never been a victim of fraud, compared to only 30 percent worldwide.

AI-driven fraud

The high fear of fraud is believed to have several causes, including the increasing number of news stories about fraud, economic crises and consumers’ growing reliance on online channels that demand more information from them. There is also a new trend, generative AI technology, that is making fraud even easier.

For example, deepfake profiles can be created using generative AI. Nevertheless, almost three quarters of Belgian respondents say they are willing to use biometric methods such as facial recognition or voice recognition instead of passwords to make a payment or transaction. 57 percent stated that they would even prefer to use biometric methods rather than passwords to authenticate transfers, payments or transactions.

Other important results of the study are:

• Dutch and Belgian consumers rate the security checks they have to undergo with suppliers/service providers as less negative than consumers in other countries. In the Netherlands and Belgium, 29% and 26% of respondents respectively experienced poorer customer service due to security checks, while globally this percentage was 35%.
• The three most common communication channels used by fraudsters worldwide are: mobile phone (70%), email (67%) and SMS/WhatsApp (42%).
• 60% of Belgian respondents say they would switch to another service provider if they were a victim of fraud or thought another company offered better protection.