Value of fraudulent payments rose by 26% to €126m in 2023

Online card payments made up 86% of the total value of card fraud in 2023, totalling €37.4m

The new report shows that about 60% of the total value of fraud across 2022-2023 involved cross border payments, amounting to €77m in 2023 and €64m in 2022.

The total value of fraudulent payments rose by 26% in 2023, increasing to €126m from €100m in 2022, new research from the Central Bank of Ireland shows. 

Publishing its new Behind the Data (BTD) paper on Irish payment fraud statistics, the research also reveals that the rate of fraud in Ireland as a share of all transactions is low, with value and volume rates at just 0.001%.