Credit card fraud has increased in Australia
Recently released figures have shown that credit card fraud in Australia has increased, partly fuelled by card fraud that is carried out online
Whilst credit cards provide convenience, ease, and flexibility, hence their popularity amongst Australian consumers, they are also at the centre of concerns relating to fraud. Credit card related fraud has always been something of a problem in Australia and other countries around the world, but according to figures that were recently released the level of credit card fraud in Australia has soared recently.
The figures showed that in the twelve months to the end of June credit card fraud in Australia increased by a massive thirty percent, and this is thought to have been fuelled by an increase in credit card fraud on the Internet, which is known as CNP or Card Not Present fraud. The figures were released by the Australian Payment Clearing Association.
The figures showed that in total the level of fraud in Australia on credit cards, debit cards, and cheques increase from seven cents in every one thousand dollars to nine cents in every one thousand dollars, which reflects an increase of around thirty percent. APCA found that with regards to credit card fraud the transactions were carried out mainly via the Internet.
One industry official said that consumers needed to be extra careful given the figures, and needed to ensure that they were using secure sites, being careful with their card details, and taking out protection where possible. He said: “We encourage consumers to register for fraud protection services when shopping online and activate these additional security controls when prompted.â€
Source - Dynamic Business