The number of payment card frauds increased in 2023: the most common scams

In 2023, the number of illegal actions with payment cards that led to losses increased by 73% compared to 2022 and amounted to 272 thousand transactions, UNN reports with reference to the NBU.

Details

Last year, the amount of losses from illegal actions with payment cards for payment service providers, merchants, and customers amounted to almost UAH 833 million, which is 73% more than in 2022. The average amount of one illegal transaction was UAH 3,065, which is 39% higher than in 2022 (UAH 2,200).

Last year, the majority of payment card fraud cases occurred via the Internet - 83% of the total. Only 17% of cases were related to physical devices, such as ATMs and self-service devices.

The average amount of one illegal online transaction increased by 31% in 2023 and amounted to UAH 3,150 (UAH 2,408 in 2022). Most fraudulent cases were caused by disclosure of personal data by customers: 80% of all losses in 2023 were due to social engineering (compared to 53% in 2022).

The most popular schemes of fraudsters:

fake messages about assistance from the state or social funds to lure out personal data of customers;

making a duplicate SIM card, financial number of the client's phone to lure out access codes to mobile operators' applications;

Calls from persons posing as employees of the bank's security service or other institutions to obtain payment card details;

disseminating messages in messengers and social networks about the possibility of earning additional income for performing certain tasks on the Internet.

Recall

Fraudsters are creating fake links under the guise of financial assistance from international donors such as IOM Ukraine, encouraging people to enter personal and payment information, which is a fraudulent practice.