European Card Fraud - Norway

Losses Continue to Trend Up Towards Historic Peaks

Norway's value lost to card fraud has continued its upward trajectory for a third consecutive year; extending the increases seen since the sharp dip in 2020. While total losses of 304M DKK remain below the 2016–2019 peak, the pace of increase this year appears steeper than in recent years, suggesting the recovery is accelerating rather than levelling off. Moreover, Norway’s basis points have risen notably, from 2.41 to 3.91. This will cause concern to Norway, as the growth in losses is disproportionate to the rise in consumer spending.

The clearest driver of this trend is Card-not-Present fraud, which has grown consistently since 2020 and is now by far the dominant fraud category in Norway at 89% of losses, closely tracking the overall value lost to fraud line. This loss type continues to reflect the broader shift toward remote and online transactions, and aligns with Norway's known exposure to vishing, phishing, and social-engineering-driven scams rather than physical card compromise. 

By contrast, counterfeit card fraud and card stolen-or-lost losses remain comparatively low and stable, while card lost or stolen in the post, ID fraud, and other categories continue to represent a negligible share of overall losses. 

Taken together, this year's data shows that Norway's fraud challenge is increasingly concentrated in remote-channel, social-engineering-led fraud rather than traditional card-present or counterfeit methods. This underscores the continued need for intelligence-led, digitally focused defences tailored to this evolving risk profile.