Aussies need to be wary of fraudsters

Australia is fast turning into a cashless society, with debit and credit cards becoming increasingly common.

While this is making it far more convenient for Aussies to make purchases, opportunistic thieves are also finding it easier to steal people's identity.

New figures released by the Australian Bureau of Statistics have indicated that $1.4 billion was lost due to "personal fraud" in 2010/11.

This included credit card fraud, identity theft and scams and the report found that three out of five victims suffered a financial loss.

Around 6.7 per cent of the population were targeted by criminals during the 12-month period, which was up from five per cent in 2007.

The study has thrown up some worrying results, but there are certain steps that Aussies can take to protect themselves.

Avoid entering your credit card details on unrecognised websites and make sure that you shred all statements and other documents before throwing them in the bin.

Have a question about credit cards? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801343630-ADNFCR