GREECE Increase in Fraud YoY
Data provided by
Euromonitor International, Consumer Finance 2022 Edition
Greece Continues to Fight Back
Despite the pandemic continuing to impact the tourism industry during 2021, Greece forecast promising economic recovery and robust growth for 2021 and 2022 thanks to surges in consumer spending and investment. This is reflected in the Market Retail Value for Greece, which has been steadily rising by approximately 10% year-on-year since 2017.
Unfortunately, fraud losses seem to be following a similar trend, with overall losses increasing by 9% from 2020 to 2021 and CNP fraud accounting for 91.5% of this value at €12.9M. We hope to see increasing success in the Greek market with participation in our FICO Falcon consortium models and the improved sharing of fraud intelligence across Europe.