The total value of the frauds committed using credit cards issued in Moldova in the third quarter of this year was 1.5 million lei. Almost 40% of the credit card frauds were committed without the physical presence of cards, by using the card number only, IPN reports.

According to the National Bank of Moldova, over 33% of the credit card frauds were committed in the acceptance network of foreign providers.

In international practice, there is used a relevant indicator relevant showing the size of credit card frauds – the ratio of the fraud value to the value of operations with payment cards. This indicator for the third quarter of last year was 0.0078% of the total value of transactions with cards issued in Moldova, which is much lower than the European average.

The value of frauds committed using cards issued abroad was 376,700 lei. This value declined the last few quarters following the applied security measures, including the increased security requirements for traders with e-commerce platforms – implementation of 3D Secure, etc.

The issuing bank should be contacted immediately in case of suspicions of unauthorized use of payment cards so that the card is blocked.