Instances of credit card fraud 'low in Australia'

An official from MasterCard has asserted that there are relatively few instances of credit card fraud in the country when one considers how many transactions take place.

Andrew Cartwright, senior vice-president and country manager for Australia, told News Limited that in the last 12 months there have been 1.7 billion transactions using plastic.

He noted that while there is always "great interest" in the number of instances of fraud, the levels in Australia are minimal.

The expert asserted that they are "still very low in comparison to the hundreds of millions of successful card transactions done in Australia on an annual basis".

He added that to avoid falling victim to fraudsters, it is important to check transactions and notify banks of anything suspicious.

Last month, a study by ING Direct revealed that 28 per cent of Aussies are planning to prioritise reducing their debt rather than spending money on presents in the run-up to the Christmas period.

Have a question about credit cards? Ask the money gurus at Mozo Answers. ADNFCR-1761-ID-800784018-ADNFCR