AusPayNet: Releases card fraud data for 2020

AusPayNet: Releases card fraud data for 2020

• Australian Payments Network (AusPayNet) is the self-regulatory body for Australia’s payments industry
• Shown a slight increase in online card fraud in 2020 as the shift to online payments accelerated with the onset of COVID-19 in Australia
• The latest payments fraud report shows that the overall spend on Australian cards was down by 2.2% to $801
• The overall value of card fraud increased by 0.6% to $467.6m, following a 19.5% drop in 2019
• Australians are not liable for fraud on their cards and will be reimbursed as long as they take due care
• The value of other types of card fraud fell to new lows: lost-and-stolen card fraud declined by 25% to $26.3m