Increase in Fraud Cases in Digital Transactions in Cyprus
August 28, 2025
The increase in digital payments has led to more incidents of card fraud, while bank robberies have nearly disappeared in Cyprus. The Central Bank published a report showing a 34% rise in fraud cases in 2024 compared to 2023. Card fraud incidents have more than doubled in the last two years in Cyprus, though they remain lower compared to the Eurozone. The fraud rate on card payments reached 0.01% of total transaction volume. Despite the rise, rates in Cyprus are lower than those in the Eurozone.