Card security code

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.

The growing use of plastic money by Greek consumers for transactions in brick-and-mortar stores or e-commerce is strengthening the appetite of certain people for intercepting card details and embezzling larger amounts.

Banks are ambivalent over the provision submitted to Parliament in a Development Ministry draft law about their liability regarding fraud in online transactions (phishing).

Greece's four systemic banks have canceled or are planning to cancel and replace up to 15,000 credit and debit cards, after the payment card data used by some of their customers on a Greek online tourist services portal was hacked.