Online Credit Fraud Surges in Germany, Targeting Older Consumers
Online credit fraud has surged in Germany, with complaints rising by 26 percent in the first half of 2025. Fraudsters are exploiting digitization to trick consumers into taking out loans, targeting older people in particular. Nearly 4,500 complaints were received between January 2023 and June 2025.
Fraudsters are employing manipulative tactics to deceive consumers. They use fake online forms, deception over the phone or email, and 'social engineering' to persuade victims into signing credit contracts. Even video and post identification procedures have been abused. The implementation of the EU consumer credit directive may simplify online loan processes, but it also potentially increases the risk of fraud.
Consumers should be vigilant against fraudulent offers. Be wary of loans that don't require a credit check or demand upfront payment. Offers made solely through social media or messengers should raise suspicion. Never share sensitive data lightly. If you fall victim to credit fraud, contact your bank and the lender immediately, file a police report, and seek legal advice.
Online credit fraud is a growing concern in Germany. With nearly 4,500 complaints received in the past two and a half years, consumers must remain vigilant. Authorities are working to combat this issue, but it's crucial for individuals to protect themselves by being cautious and informed.
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