USD 469 mln cheques and cards transactions were fraudulent in 2015
Melisande Mual
19 Aug 2016 / 5 Min Read
According to the report, the rate of card fraud increased from 58.8 cents in 2014 to 66.8 cents per USD 1,000 spent, in line with global trends.
The rise was driven by a 21% increase in card not present (CNP) fraud. For Australian cards used overseas, counterfeit and skimming fraud jumped by 77% to USD 28.1 million, while CNP fraud rose 13% to USD 226.3 million.
On Australian cards used domestically, counterfeit and skimming dropped by 10% to USD 22.9 million, but CNP fraud jumped 38% to USD 136.7 million.
APCA said customers can prevent fraud by keeping computer security up to date, ensure websites are secure when paying, and checking account statements regularly.
Melisande Mual
19 Aug 2016 / 5 Min Read
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