RIGA - In the first five months of this year scammers defrauded clients of Latvia's four largest banks of EUR 4.1 million, with the clients themselves enabling the transactions, according to the data released by the Finance Latvia Association.
In all, 1,919 fraud cases were recorded during the first five months of 2022, the banking association said.
Meanwhile, 1,082 fraud cases targeting EUR 1.7 million worth of assets were averted in the five-month period.
In the five months of this year, Latvia's four largest banks reported 716 phone scams, in which clients lost EUR 512,306 in total. Also, EUR 1,519,774 were lost in 545 cases of investment fraud and EUR 2,112,155 were stolen in 658 other scams.
In the five months criminals were prevented from defrauding bank clients of EUR 355,691 in 462 attempted phone scams, EUR 591,305 in 445 cases of attempted investment fraud and EUR 756,580 in 175 cases of other scamming attempts.