Fraudsters took us for €100m last year and those going abroad on holidays are most at risk

August is one of the busiest months for travelling abroad opening holidaymakers up to fraud, writes John Hearne

Card fraud accounted for 95% of fraudulent transactions and 36% (€35.2m) of gross fraud losses in 2023.

Fraudsters stole almost €100m through frauds and scams in 2023, an increase of over 16% on 2022. That’s according to a new report from FraudSMART, the fraud awareness initiative led by the Banking & Payments Federation.

Experts are now warning holidaymakers to be extra vigilant with their credit and debit cards when booking flights and accommodation over the summer season. Card fraud accounted for 95% of fraudulent transactions and 36% (€35.2m) of gross fraud losses in 2023.