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Corrected loss figures for payment card fraud and online banking fraud for 2018

Bits AS has revealed an error in reported fraud figures for payment cards and online banking for 2018. These are the same figures that Finanstilsynet publishes in the 'Risk and Vulnerability Analysis 2018'.

Actual loss figures for 2018 are higher than previously published, and this particularly affects the fraud figures for payment card fraud of type 'card not present' (typically online-shopping). Corrected loss figures for 2018 show that the level of losses due to fraud is about the same level as in 2017, while previously reported figures showed a decline.

Press release from Bits AS

From the second half of 2019, losses due to fraud in payment services in Norway should be reported in accordance with EBA's guidelines, see information published 21.10.2019:

https://www.finanstilsynet.no/nyhetsarkiv/nyheter/2019/svindelrapportering/