Clients of the four largest banks in Latvia, by independently confirming payments, were deceived out of a total of €10.954 million in the first 11 months of this year, which is 26% less than in the same period last year, the Financial Industry Association (FNA) reported to the LETA agency.
In the first 11 months of this year, a total of 6,143 cases of fraud were reported, which is 24% less than in the same period of 2024. This includes 3,238 cases of phone fraud amounting to €5,906,321. There were also 2,312 cases of investment fraud totaling €4,243,667 and 593 cases of other types of fraud amounting to €803,757.
In the first 11 months of this year, 17,047 cases of fraud were prevented, totaling €12,748,907. Compared to the corresponding period in 2024, this year saw an 11.1% increase in the amounts protected from fraud.
This includes 4,842 attempts of phone fraud prevented, amounting to €5,890,764, 11,193 attempts of investment fraud totaling €5,950,766, and 1,012 other fraud cases amounting to €907,377.
As previously reported, last year a total of €15.5 million was stolen in 9,025 cases of fraud, while 17,314 cases of fraud were prevented, totaling €12.2 million.
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