New figures from the Central Bank show that the total value of fraudulent payments reported by payment service providers here increased by 27.2% to over €179m last year.
The Central Bank’s annual Payment Fraud Statistics show that fraud affects about one in 10,000 payment transactions and while the number of fraud transactions rose only marginally, there was a significant increase in the payment value.
Today’s report shows that the average value of fraudulent payments varies according to the payment methods used. Despite a lower fraud rate, cheques recorded the highest average fraud value at €9,741, while credit transfers recorded the second-highest average fraud value at €2,412 last year.
Payments made using E-money institutions ranked third with a notable spike from €692 in 2024 to €1,427 in 2025.
The Central Bank report also noted that authorised push payment fraud – where…
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Set up “Push Notifications” for all bank transactions so that you are alerted in real-time to any unauthorized spending, allowing you to freeze your card immediately before the damage escalates.