Clients of Latvian financial institutions that are members of the Financial Industry Association (AFO) lost a total of €2.6 million to fraudsters in the first two months of this year, with clients themselves confirming the payments, according to information published by the association, reports LETA.
In the first two months of 2026, a total of 935 cases of fraud were recorded.
This period included 423 cases of telephone fraud amounting to €1,033,232, 413 cases of investment fraud amounting to €667,395, and 99 cases of other types of fraud amounting to €899,674.
At the same time, in the first two months of this year, 3,963 cases of fraud were prevented, totaling €3.435 million.
In particular, 1,143 attempts of telephone fraud amounting to €1,567,017, 1,929 attempts of investment fraud amounting to €1,341,007, and 891 cases of other types of fraud amounting to €527,086 were successfully prevented.
Members of the Financial Industry Association (AFO) include "Swedbank", "SEB banka", "Citadele Bank", the Latvian branch of "Luminor Bank", "BluOr Bank", the Latvian branch of "OP Corporate Bank", "Signet Bank", "Regional Investment Bank", "Industra Bank", and "Magnetiq Bank". The association also includes the "Altum Development Finance Institution", and has 23 associate members.
As previously reported, in 2025, clients of the four largest banks in Latvia experienced a total of 6,667 cases of fraud, resulting in the theft of €12.22 million, while 18,464 cases of fraud were prevented, amounting to €14.031 million. Compared to 2024, the volume of stolen funds decreased by 21.3%.
The largest bank in Latvia by assets is "Swedbank", followed by "SEB banka", "Citadele Bank", and the Latvian branch of "Luminor Bank".
Leave a comment