Ukraine's Central Bank says fraudulent operations with payment cards on rise

The volume of non-cash transactions in 2018 grew by 55.4%, to UAH 1.297 trillion, or US$48 billion.

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The amount of fraudulent operations in Ukraine with payment cards per UAH 1 million, or US$37,000, grew from UAH 77 (US$2.85) in 2017, to UAH 92 (US$3.41) in 2018.

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"Fraudulent transactions statistics were on the rise in 2018. The rise is not big, but nevertheless, it's a fact. Illegal translations with payment cards amounted to UAH 92 per UAH 1 million in 2018 versus UAH 77 in 2017," Deputy Director of the Payment Systems and Innovations Department of the National Bank of Ukraine Olha Vasilyeva said during a round table in Kyiv.

According to her, the average check for illegal transactions last year rose to UAH 2,500 (US$92.6) from UAH 2,100 (US$77.8) in the previous year.

UNIAN memo. In 2018, holders of payment cards of Ukrainian banks carried out 3.9 billion transactions, which was 26.7% up from 2017, and the volume of such transactions grew by 35.4%, to UAH 2.877 trillion, or US$106.56 billion. The number of non-cash transactions for the year increased by almost 33%, to 3.1 billion, and their volume grew by 55.4%, to UAH 1.297 trillion, or US$48 billion.

The share of non-cash transactions with the use of payment cards of Ukrainian banks in 2018 reached 45.1%, which is 5.8 percentage points up on the previous year.

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