NBU: more fraud transactions with payment cards in Ukraine in 2018

The share of fraudulent operations with payment cards in Ukraine in 2018 increased to UAH 92 per UAH 1 million of operations from UAH 77 in 2017, Olha Vasileva, the deputy director of the payment systems and innovation development department of the National Bank of Ukraine (NBU), has said.

"In 2018 statistics on fraudulent transactions grew. In 2018 illegal operations accounted for UAH 92 per UAH 1 million of transactions with payment cards, whereas in 2017 the figure stood at UAH 77. The average bill for illegal operations in 2018 was approximately UAH 2,500, whereas in 2017 some UAH 2,100," the banker said during a round table in Kyiv.

According to her, the Internet, as well as phishing using social engineering methods have the largest share of fraudulent transactions.

The expert stressed the importance of improving the financial literacy of the population to reduce the level of card fraud.