Card fraud rises 43% in a year

Cardholders in Greece lost 13.5 million euros in 2023, falling victim to fraud by people who either stole their card or their data. This is a part of the total loss that occurred through plastic money fraud, the amount of which increased from €16.2 million to €23.8 million (an increase of 46.9%), as the remaining €10.3 million was charged to banks and payment providers.

Incidents of fraud increased by 43% from 2022 to 2023, from 287,300 to 410,300, and one of the main reasons is the rise in online transactions which increases the appetite of the scammers to intercept card details or embezzle larger amounts.

Common types of payment card fraud are: transactions with a lost or stolen card, or with a card that was embezzled before reaching the beneficiary's hands; issuing a card using false personal or financial information; forgery - i.e. creation of a clone card that...