1 in 7 Aussies hit by credit and debit card fraud

Friday 31 July 2009

Article by Mozo

More than 15 per cent of Australians have been caught out by credit and debit card fraud in the past five years, ACI Worldwide has claimed.

Research from the group that while one in seven had felt the pain of credit or debit card fraud, an unfortunate 2.6 per cent had been targeted twice, while 0.64 per cent said they had fallen victim to card fraud on more than three occasions.

"The international research we have conducted shows that although card fraud trends vary around the world, it is still a persistent problem for banks," commented ACI Worldwide vice-president David Nussenbaum.

In the global stakes, Australia was found to have a higher rate of credit and debit card fraud than Dubai, China, Germany and Singapore, but was behind the US and the UK, where more than a quarter (27 per cent) had been affected by the crime.

This comes despite new data out this week from internetworldstats.com showing that Australia has a higher percentage of internet users than both the US and the UK, with 80 per cent of Aussies hooked up to the web.

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