The Australian Payments Network has produced this report, which included data showing that fraud on lost and stolen cards increased by 9.3% to $28.9 million; counterfeit/skimming fraud fell by more than 50% to $5.5 million; and card-not-present (CNP) fraud increased by 7.6% to $452 million. However, in 2021, while card payments grew by 8.0% to $865 billion and online spending by 8.2% to $53 billion, the incidence of all card fraud grew at a slower pace, by 5.7% to $495 million for the year. The rate of fraud on Australian card payments in 2021 was steady at 57.3 cents per $1,000 of spending, compared to 58.6 cents in 2020. The payment fraud statistics for 2021 are detailed on a separate paper.
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