Last year, the number of payment card fraud transactions amounted to 270,000. This is 2,000 transactions (or 1%) less than in 2023. There were 31 fraudulent transactions per million payment card spending transactions.
Last year, the number of payment card fraud transactions amounted to 270,000. This is 2,000 transactions (or 1%) less than in 2023. There were 31 fraudulent transactions per million payment card spending transactions.
This was reported by the National Bank of Ukraine.
At the same time, the amount of losses from payment card fraud increased by 37% - to a total of 1.1 billion hryvnias.
As the NBU explains, this is due to an increase in the average amount of one illegal transaction by 39% compared to 2023 (from 3,065 UAH in 2023 to 4,247 UAH in 2024).
In addition to the increase in losses, the total amount of spending transactions using payment cards also increased by 8%. Accordingly, the relative level of losses from fraud using payment cards to the total amount of spending transactions increased by 28%.
So, for every UAH 1 million spent using payment cards, there were UAH 176 in losses from fraud.
The majority of fraudulent cases occurred online — 83% of the total number of fraudulent transactions.
As before, the vast majority of fraudulent cases are caused by social engineering. That is, when customers independently disclose personal data, payment card details, confirmation codes, and passwords for making payment transactions.
Last year, this was 84% of the total amount of all losses (in 2023, it will be 80%).
