AUSTRALIAN PAYMENTS NETWORK ANNUAL FRAUD REPORT

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.

https://www.auspaynet.com.au/sites/default/files/2022-08/Fraud_Report_2022.pdf

https://www.auspaynet.com.au/sites/default/files/2022-04/PaymentFraudStatistics_JAN21-DEC21.pdf

Any modest contributions for my time and ongoing expenses are welcomed!  At Buy me a Coffee one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: