The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published two factsheets designed to help consumers protect themselves from crypto and other online frauds and scams and explain how fraudsters increasingly use artificial intelligence (AI) to deceive consumers. To make the information easily accessible, the factsheets will be translated into all official EU languages and reproduced by national authorities.
Fraud and scams are not new, but they have become much more sophisticated. Technologies like AI and blockchain make frauds and scams more convincing and harder to detect. For example, AI-generated voices or videos can impersonate friends or family members. The consequences for consumers can include financial loss, identity theft, and emotional distress.
The factsheets provide practical tips to help consumers recognise and avoid different types of frauds and scams. They explain common tricks scammers use – including phishing, impersonation, investment scams, and Ponzi schemes – and offer concrete real -world examples. Consumers will also find guidance on how to spot warning signs and recognise suspicious behaviours, messages, or offers.
Additionally, the factsheets advise consumers on steps to prevent fraud and scams, such as never sharing personal or banking information, always pausing to think before acting, and verifying the source of any messages received.
View the Factsheet on crypto scams
View the Factsheet on AI-related online scams
Background
The three ESAs developed the factsheets in fulfilment of their mandate under Article 9(1)(b) of their respective Founding Regulations. This mandate requires the authorities “to take a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products or services across the internal market, including by reviewing and coordinating financial literacy and education initiatives by the competent authorities”.
Details
- Publication date
- 15 December 2025