New Scam Bypasses Bank Name Checks: Belgian Consumers Warned
Fraudsters have discovered a loophole to bypass the mandatory IBAN-name verification system for bank transfers in Belgium, according to Ombudsfin, the Belgian financial ombudsman service. Scammers are increasingly using payment requests and online payment platforms instead of traditional bank transfers, circumventing the name verification system that was designed to protect consumers from invoice fraud and unauthorized transactions.
The Loophole
The IBAN-name check, mandated across the European Union by October 9, 2025, requires banks to verify whether a beneficiary’s name matches the account number before a transfer is completed. However, as Het Laatste Nieuws reports, citing original reporting by De Tijd, scammers have adapted by shifting to payment methods that fall outside the verification system.
Instead of asking victims to make a standard bank transfer—which would trigger the name check—fraudsters now send payment requests (betaalverzoeken), QR codes, or payment links via digital platforms. These methods do not go through the IBAN-name verification system because they are not standard SEPA credit transfers.
How the Scam Works
According to Ombudsfin, scammers use social engineering tactics to pressure victims into acting quickly. They create a sense of urgency by claiming urgent payments are needed or that there are technical problems at the bank. Because payment requests bypass the name check system, victims do not receive the standard warnings that would appear with suspicious bank transfers. By the time victims realize they have been scammed, the money is often already gone.
Danny Moerenhout, senior anti-fraud expert at ING Belgium, confirmed the trend in an interview with HLN. “The number of cases of invoice fraud, for example, has decreased since the measure was introduced. Scammers are therefore adapting and trying to get victims to pay via methods where name checks are not possible, such as card payments. These work differently than a classic transfer,” Moerenhout said.
A Growing Threat
This new scam technique has emerged less than a year after the IBAN-name check was mandated across the EU. The measure was introduced following an EU regulation on instant payments, adopted by the European Council in February 2024, with all EU banks required to offer the system by October 9, 2025. As VRT NWS reported at the time, Belgian Minister of Consumer Protection Rob Beenders announced the measure would “ensure that bank and invoice fraud will be greatly reduced.”
In the Netherlands, the UK, and France, similar systems have proven effective. The Netherlands saw an 81% reduction in bank-account-related fraud and a 67% reduction in incorrect transfers due to mistakes. However, fraudsters are now adapting their methods to exploit the system’s blind spots.
Consumer Vulnerability
The threat is particularly concerning given the prevalence of bank fraud in Belgium. According to an iVOX survey conducted in May 2025, ING Belgium reported that 61% of Belgians have encountered bank fraud attempts, 25% have actually lost money due to bank fraud, and 70% fear becoming victims in the future. The survey also found that 79% of Belgians want more tools from their banks to protect against fraud.
Expert Advice
Moerenhout emphasized that the name check remains an effective tool despite this new fraud method. He advised consumers to remain vigilant: “If you doubt and cannot check the name of the beneficiary, it is better not to proceed. Better to miss a good deal than to become a victim of fraud.”
What’s Next
The discovery of this loophole raises important questions about the future of consumer financial protection. Banks may need to extend name verification to payment requests and online payment platforms. Consumer education will be critical—consumers must be trained to verify beneficiaries even when using payment links and requests. The EU may also need to update its instant payment regulation to close this loophole.
As Securex noted in its guidance on the IBAN-name check, the system was designed to help prevent errors and offer better protection against fraud. But as this latest development shows, the cat-and-mouse dynamic between security measures and fraudsters continues—and consumers must stay one step ahead.