Cyprus payment fraud value rises 16% to €3.7 million

According to a report by the Central Bank of Cyprus, the total value of payment fraud in Cyprus increased by 16% during the second half of 2025, reaching nearly €3.7 million. While the total number of fraud incidents decreased by 5% to approximately 14,000 cases, the rising financial impact suggests a correlation with the overall increase in transaction volumes within the country.

Card payments accounted for 93% of the total number of fraud incidents, totaling roughly 13,000 cases. However, in terms of monetary value, credit transfers represented the largest share at €2 million (56%), while card payments accounted for €1.6 million (43%).

The Central Bank noted that Cyprus recorded the highest average value per credit transfer fraud incident in the eurozone, with an average of €6,300 per incident compared to the eurozone average of €1,800. This indicates that even a limited number of fraudulent credit transfers can result in significant economic losses. In credit transfer fraud, consumers and businesses typically bear approximately 95% of the total losses.