Credit card fraud

European authorities continue to place great emphasis on combating financial fraud, as highlighted in a joint report by the European Central Bank and the European Banking Authority on this issue. Although victims of financial fraud, particularly in online transactions, are increasing, the absolute numbers remain extremely small relative to the total number of transactions.

Warning from the Bank of Greece about the increase in the number and the value, of card fraud incidents – The types of transactions that are most susceptible

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.

A new Development Ministry bill provides for the compensation of bank customers should they become victims of electronic fraud, such as the theft and use of their debit card PIN, even if this is due to their own negligence.

A Bulgarian facing charges relating to a credit card fraud syndicate was "executed" with his wife at their Cape Town home.

Police said they found Angelo Dimov and his second wife‚ Nessie Peeva‚ in Bergvliet‚ in the southern suburbs‚ with gunshot wounds to their heads. A police source said they were "executed" and laptops and cellphones had been stolen.

According to a new report, the proliferation of payment cards in circulation nationwide grew 2.08% annually from 2009 to 2013, resulting in a figure of USD 8.5 M 2013. Thanks largely to increased awareness and new technologies such as contactless cards, the average transaction value also increased to USD 85.5 (15th in Europe).

Customs officers at Bulgaria's Sofia International Airport have discovered and seized about 50 skimming devices in courier parcels intended for shipping to destinations abroad.

Bulgaria and Spain, in cooperation with Europol, have dismantled a significant Bulgarian organised payment crime network.

The crime ring is suspected of a variety of crimes including large scale ATM skimming, electronic payment fraud and forgery of documents, Europol said in a statement.

A total of BGN 7,93M was stolen in Bulgaria last year as a result of credit card frauds, namely skimming, according to data provided by financial analysts, cited by 24 Chasa Daily.

The number of bank cards in 2013 was 8,259,629, or an average of one card per person.

Officers from the police’s cybercrime squad have traced a 52-year-old Greek man and a 26-year-old Romanian national who are alleged to have made a series of online purchases using stolen credit card details, sources indicated on Tuesday.

The investigation was launched early this year following a tip-off implicating the two in extensive online credit card fraud.