European Card Fraud - Greece
Explore card fraud loss trends across Europe with our interactive map, charts and analysis from FICO fraud experts
Lost & Stolen Card Fraud Causes Increasing Problems
Greece’s losses are on the increase and causing significant concern. In the last ten years overall losses have increased dramatically from €4.8M to €28.4M, an increase of over 5x. Following the trend of other European countries, this is mostly driven by Card Not Present (CNP) fraud. However, there has been a large increase in Card Stolen or Lost fraud, which is more unusual.
Reports suggest Greek consumers are falling prey to their cards being stolen and exploited before reaching their hands, as well as card forgery. There may be a few factors impacting the persistence of Card Present fraud in Greece, such as high use of in-person cards, lagging anti-fraud POS controls such as EMV, or perhaps tourism-driven fraud exposure. An increase in card payments in Greece may also partially explain the rise in fraud as a natural result of the overall increased genuine usage.