The data also show a decline in card-not-present (CNP) fraud, which occurs when stolen card details are used to make online or phone transactions. The increase in CNP fraud in 2018 was 2.4%, compared to 13.9% the previous year. At USD 488 million, CNP fraud accounted for 84.9% of all card fraud in 2018, steady on the previous period.
Growth of 2.3% in all types of card fraud during the year, to USD 574 million, was significantly outstripped by 5.4% growth in card spending overall, to USD 789 billion.
Fraud related to lost or stolen cards was up 37% to USD 55.5 million, accounting for 10% of all card fraud. To protect against theft, AusPayNet advises cardholders to always keep their card and PIN safe, install a lockable mailbox, clear mail daily and, if they are away for an extended period, to have their mail held at the post office or collected by a friend.
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