RIGA - Scammers defrauded clients of Latvia's four largest banks of EUR 12.662 million last year - 5.2 percent more than in 2022, with the clients themselves enabling the transactions, according to the data released by the Finance Latvia Association.
In all, 7,795 fraud cases were recorded in 2023, the banking association said.
Meanwhile, 13,537 cases of attempted fraud targeting EUR 9.218 million worth of assets were averted in 2023.
Last year, Latvia's four largest banks reported 3,140 phone scams, in which clients lost EUR 5,579,011 in total. Also, EUR 5,603,496 were lost in 3,671 cases of investment fraud and EUR 1,479,787 were stolen in 984 other scams.
In December 2023, bank clients were scammed out of EUR 1.408 million.
As reported, clients of Latvia's four largest banks were defrauded of EUR 12.037 million in 2022, which is 8.8 percent more than in 2021, according to the banking association.
Latvia's four largest banks by assets are Swedbank, SEB Banka, Citadele and the Latvian branch of Luminor.
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