Chile sees rise in digital payment fraud

Update, August 21, 2026: follow-up coverage of the Central Bank report уточured that Chile reported nearly US$100 million in banking fraud in the first half of the year. It also confirmed that debit card fraud rose from 0.04% to 0.07% between the first half of 2025 and the first half of 2026.

Chile's fifth 2026 Payment Systems Report again put digital fraud under scrutiny. In the first half of the year, banking complaints rose and the related amounts reached nearly US$100 million, equal to 0.06% of the total value transacted through digital payment methods.

What happened with cards?

Debit card fraud rose from 0.04% to 0.07% between the first half of 2025 and the first half of 2026, according to Emol's coverage of Chilean banking. Credit card fraud reached 0.14%, according to the same report cited by that outlet.

The Central Bank's reading was consistent with that deterioration. In the August 2026 Payment Systems Report, it said increases in fraud rates across digital payment methods have been observed since 2024, with a more persistent pattern in debit card payments. In its public presentation, it reiterated that, with the exception of ATM withdrawal fraud, increases were identified in the other instruments starting in the second half of 2024.

What happened with electronic transfers?

Electronic Funds Transfers, or TEF, cut their fraud rate from 0.04% to 0.03% in Chile, according to the same Central Bank report.

Even so, the Central Bank called for stronger regulatory and payment provider efforts to contain the risk. The recommendation comes as signs of pressure on authentication, phishing and impersonation remain present in the local ecosystem.

In parallel, Diario El Día reported that Chile's PDI attributes a 30% increase in SMS scams to the country and recalled basic prevention measures, such as not using links received by SMS and verifying directly with the financial institution.

La Tercera, meanwhile, reported that BancoEstado detected a new wave of cases consistent with self-fraud starting on July 13, 2026. Between July 13 and July 28, it identified 419 new cases totaling $215,478,244.