One in nine Australians have been victims of personal fraud, with card fraud the most common type due to more people banking and shopping online because of COVID-19.Nearly 7 per cent of the adult population or 1.4 million Australians experienced card fraud in 2020-21
About 1.4 million Australians experienced card fraud in 2020-21 — nearly 7 per cent of the adult population and a higher rate than in 2014-15. Financial institutions, credit-card companies, and merchants are liable to refund fraud losses on payments cards, provided consumers do not give their financial details to someone else.Samantha Gray and her husband discovered criminals were taking small amounts of money every month.
Ms Gray and her husband only picked up the fraud because they started to do a monthly spending audit. Former Queensland premier Anna Bligh is the head of the Australian Banking Association, which represents the nation's banks. It has introduced new artificial intelligence technology to detect suspicious and unusual behaviour on its digital banking platforms and alert customers to potential scams.
Mr Brody wants to see new UK-style protections put in place here, including a contingent reimbursement code that forces banks to offer compensation to people who are tricked into sending money to criminals.