A Bibliometric Analysis of Digital Financial Literacy and Its Role in Reducing Online Financial Fraud in the European Union

Abstract

The rapid digitalization of financial services in the European Union (EU) has not only enhanced convenience and inclusion but also increased exposure to sophisticated online financial fraud. Digital financial literacy (DFL) is widely promoted as a key tool for empowering consumers and reducing fraud victimization. However, the empirical and conceptual landscape linking DFL to fraud reduction within the specific sociolegal context of the EU remains fragmented. This study uses bibliometric analysis to map the research area, define major themes within the field, and determine the role of DFL in reducing online financial fraud in the EU. Peer-reviewed journal articles were targeted to ensure academic rigor, with a publication window of 2010–2025 reflecting key fintech and regulatory developments. After adhering to PRISMA principles, 87 peer-reviewed publications were chosen out of a total of 568 records identified through OpenAlex and Web of Science, coauthorship, keyword co-occurrence, citation, temporal, and density representations were analyzed using VOSviewer. Findings indicate an increasingly diffuse research field with new clusters concentrating on macroeconomic policy, business technology, social psychology, and interdisciplinary foundations. Results demonstrate that successful implementation of DFL interventions combines behavioral insights, technological protection, and non-discriminatory policy considerations. The study concludes by identifying major gaps in research and providing a path forward for future evidence-based policy efforts toward enhancing consumer protection in the EU digital financial market.