Online shopping, data hacks and organised criminals fuel 36 per cent rise in…

Australians are losing more money to card fraud than ever before as scammers and criminals, based mainly overseas, find increasingly sophisticated ways to make payments and transactions using stolen credit or debit card details. Fraud on payment cards jumped 35.6 per cent to $677.5 million in the 2023 financial year, exceeding pre-pandemic levels and far outstripping the growth in total spend on Australian cards, which increased 15.4 per cent to $1 trillion, according to data from the Australian Payments Network (AusPayNet). Payment card fraud ticked up 35.6 per cent across the 2023 financial year and is now the highest it’s ever…