ESAs publish key tips to help consumers detect, prevent, and act on online frauds and scams
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.
Further information:
Iris Hude
Communications Officer
press@esma.europa.eu