Almost €100m stolen by fraudsters in 2023 

New report from the BPFI found card fraud accounted for 95% of fraudulent transactions and 36% of gross losses

The report also notes that other types of fraud had lower volumes but higher average losses, with unauthorised electronic transfers accounting for only 3% of the volume but 34% (€33.8m) of losses. 

Almost €100m has been stolen by fraudsters through scams in 2023, an increase of more than 16%, according to a new report published by the Banking & Payments Federation Ireland (PBFI).

The report found that card fraud accounted for 95% of fraudulent transactions and 36% (€35.2m) of gross fraud losses in 2023.