Fraudsters swindled over 4 million euros in three months: most often through phone calls 0

Emergencies and Crime
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Fraudsters swindled over 4 million euros in three months: most often through phone calls
Photo: LETA

Residents of Latvia continue to lose money due to fraudsters, despite the increase in the number of prevented cases.

In the first quarter of 2026, clients of financial institutions lost 4.156 million euros in 1,415 cases, reports the Financial Industry Association. This refers to situations where the clients themselves confirmed the payments.

Most often, money was lost due to phone fraud — 637 cases totaling 1.78 million euros. Investment schemes brought the criminals another 1.16 million (616 cases), while other types of fraud accounted for about 1.22 million.

At the same time, more attempts were prevented than completed crimes: 5,613 cases totaling 5.17 million euros. The majority were investment frauds.

In March alone, 480 cases were recorded, in which 1.56 million euros were stolen.

For comparison, in the entire year of 2025, clients of the largest banks lost 12.22 million euros, while the volume of losses decreased compared to the previous year.

The main problem is the so-called "self-confirmed" transfers, where people send money to fraudsters without recognizing the deception.

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