Fraud losses in Latvia exceed €16 million over nine months

According to the State Police, 317 fraud cases were registered in Latvia in September, of which 105 were successfully carried out by scammers. Victims lost at least €1,011,852 in total during the month.

Phone scams cause the biggest losses

The largest sums were lost to phone fraud. Of 216 registered phone scam cases in September, 52 succeeded, with scammers extracting €562,909. The Riga region had the most victims - 61 people, who together lost €488,174. Scammers most often pose as employees of postal services, banks, the State Social Insurance Agency, police, or mobile operators.

Lottery and investment fraud

Two lottery scam cases were registered in the Kurzeme region in September. In one case, a victim lost €288,315 after being convinced that €1.6 million had been credited to their account, but that various payments were required to release the funds. The victim repeatedly handed over cash to an unknown person who came to collect it and also personally deposited money into parcel lockers.

Investment fraud also remains a persistent problem. Twenty-one such cases were registered in September, and in every one the victim lost money, totaling €99,655. The Riga region again had the most victims - 14 people, who lost €71,516 combined.

Losses top €16 million since January

Police data show that in the first nine months of this year, Latvian residents have lost more than €16 million to fraudsters. Officials note that scammers keep using familiar schemes but continually adapt them to appear more convincing. The State Police stressed that no legitimate company or institution will ever ask someone to urgently transfer money, reveal online banking credentials, or send Smart-ID codes. Anyone who suspects fraud should contact their bank and the police immediately, and should call 112 if a scam has already taken place.