Belgian banks have announced a new set of anti-fraud measures, including mandatory Itsme identity approvals and cooling-off periods for certain transactions, in a bid to curb the rising tide of phishing and online financial crime. The initiative, detailed in an infographic released on April 13, 2026, outlines enhanced verification steps and transaction delays designed to give customers and banks more time to detect and prevent fraudulent activity.
The announcement builds on a broader EU push to combat digital crime and protect consumers online. In April 2026, Commissioner Maroš Šefčovič addressed transnational left-wing extremism, highlighting the misuse of digital platforms for propaganda and coordination, and pointed to existing tools like the Terrorist Content Online Regulation and the Digital Services Act as key frameworks. While the Belgian banks' measures focus on financial fraud rather than extremist content, they align with the Commission's emphasis on platform accountability and user protection.
Earlier, in December 2025, Commissioner Michael McGrath proposed the European Democracy Shield, a initiative aimed at protecting journalists and political candidates from online abuse, and strengthening regulation of digital political discourse. The Belgian banks' anti-fraud package similarly targets online harms, though from a consumer protection angle, reinforcing the trend toward tighter oversight of digital transactions.
The new measures are expected to have a moderate impact on several stakeholders. Consumers will benefit from reduced fraud risk, but may face inconvenience from additional verification steps and transaction delays. Banks will incur implementation costs for the new systems, but could see long-term savings from lower fraud losses. Digital service providers like Itsme may see increased usage, while fraudsters face greater barriers. The initiative reflects a trade-off between enhanced security and user convenience, with regulators leaning toward stronger consumer safeguards.