Greece recorded stronger-than-average performance compared with the European Union in 2024 in both the incidence and value of fraudulent transactions across credit transfers, direct debits, payment cards and cash withdrawals.
The sole exception was fraud involving electronic money—such as prepaid cards—although the financial impact in Greece remained marginal. Fraudulent transactions in this category amounted to just 265,648 euros, compared with a total of 101.94 million euros across the EU.
According to sources at the Hellenic Bank Association, Greece continues to stand out for the high level of security achieved across all payment instruments.
Transaction data
Figures from the European Central Bank and the European Banking Authority show that in 2024:
• Credit transfers: Fraud rates in Greece stood at 0.001%, in line with the EU average. Slovenia posted the highest fraud rate by value (0.006%), while Lithuania led in volume (0.015%).
• Direct debits: Greece reported zero fraud, compared with a 0.001% rate in the EU, where fraudulent transactions amounted to 112.1 million euros. France recorded the highest number of cases, while Germany topped the list by value.
• Payment cards: Greece’s fraud rate (0.017%) was nearly half the EU average (0.033%). France registered both the highest number of cases and the highest total value.
• Cash withdrawals: Fraud rates in Greece (0.003%) were roughly one-third of the EU average (0.010%). Denmark reported the highest fraud rate by value (0.070%), followed by France (0.033%).
• Electronic money: Greece recorded a higher fraud rate (0.055%) than the EU average (0.018%), though the absolute value remained low at 265,648 euros, compared with 101.94 million euros in the EU. Luxembourg recorded the highest fraud value.
4.2 billion euros in EU payment fraud
According to the report, the total value of payment fraud across the European Economic Area rose to 4.2 billion euros in 2024, up from 3.5 billion euros in 2023. Despite the increase in absolute terms, the fraud rate remained broadly stable at around 0.02% of the total value of transactions.
