Credit card users to be able to deactivate plastic when overseas?

By Mozo ·

A new scheme being considered by the Commonwealth Bank could enable Aussies to deactivate their credit cards while abroad.

Matthew Keaney, electronic crime executive manager at the financial institution, explained that this would prevent people from using their plastic in offshore ATMs, reports ZDNet.com.

However, Australians considering going online to compare credit cards might be encouraged by the fact that it could also reduce the instances of details being used fraudulently by scammers overseas.

Mr Keaney said the technology may be deployed sometime in the "near future".

This comes after News.com.au cited figures from the Australian Competition and Consumer Commission that revealed Australians reported twice as many scams last year compared with the preceding 12 months.

A total of $63 million is thought to have been stolen from people in the country.

Peter Kell, deputy chair and head of the Australasian Consumer Fraud Taskforce, warned Aussies to "never send money or give credit card details to anyone you don't know or trust".

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