Fraud in credit transfers dropped by 55% in terms of numbers and 51% in terms of value, according to data contained in the Bank of Greece’s (BoG) Financial Stability Review released last week.

A total of 5,032 cases of fraud were recorded in 2024 (total transactions in 2024: 687 million). The fraudulent transactions value totaled 12 million euros (total of all transactions in 2024: €1.2 trillion). In 2023, there were 11,214 cases of fraud, valued at €25 million in total.

Fraud in instant (debit) payments in 2024 dropped by 54% in number of cases and by 50% in total value, following their explosive growth from 2023. In 2024, instant payments rose by 88% to 63.3 million (number of payments in 2023: 33.7 million), and their value rose by 31% to €27.8 billion (€20.5 billion in 2023).

Source: Ekathimerini.com