European Card Fraud - Portugal
Explore card fraud loss trends across Europe with our interactive map, charts and analysis from FICO fraud experts
Fraud Losses Keep Portugal on its Toes
The increasing threat levels of Card Not Present fraud that we noted in 2021 have continued to cause problems for Portugal, with a significant spike in 2022 and an overall increase of around 15% between 2021 and 2024.
As with many regions, Card Not Present fraud dominates over Card Present, accounting for 98% of fraud losses. In Portugal, however, the 2022 spike and subsequent drop is out of line with the rest of EMEA’s CNP trajectory. Could the spike be driven by notable fraud attacks in 2022 such as the Impresa ransomware attack or the ANACOM data breach? The adoption of Portugal’s national anti-fraud strategy policy in 2023 may have been a contributing factor in the loss figures reducing the next year, although since the losses are still higher than pre-spike losses, this may just be a resettlement back to a more normal fraud loss increase.