Data released today by the industry self-regulatory body Australian Payments Network (AusPayNet) shows a 9.2% rise in fraud on payment card transactions in the 12 months to 30 June 2021 (FY21) alongside an increase in online spending during COVID-19 lockdowns. With total spending on cards rising 5.4% to $847.3 billion during the same period, the […]
Tag: fraud
Top three 2020 financial crime trends
The global pandemic and subsequent economic downturn has presented a new set of challenges for financial institutions as they work to keep pace with financial crimes across the sector. […]
AusPayNet 2020 Payment Fraud Report – Fraud Statistics Jul 19 – Jun 20
AusPayNet has released their latest 2020 fraud statistics, indicating that Industry effort drives continued decline in card fraud. Find out about payment fraud trends and download the full report here. […]
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IBM Safer Payments – Indue’s fraud monitoring platform wins Award
The next generation platform powering Indue’s Orion Financial Crimes fraud monitoring solution, has been recognised at the Asia Risk Technology Awards 2020. […]
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AusPayNet 2020 Payment Fraud Report Released
Auspaynet’s 2020 Payment Fraud Report has been released. Find out about payment fraud trends and download the full report here. […]
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Tokenisation – What is it and can it beat payment fraud?
Tokenisation seems to be one of the key buzzwords in the payment industry at the moment. However, what does this concept really mean and how does it benefit payments made today? […]
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Multi-Channel Real Time AI Fraud Solution
Leading payment provider Indue, and its Orion Financial Crimes service has this week delivered a major milestone in its market leading approach to financial crime mitigation for the financial services sector.
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AusPayNet 2019 Annual Review Released
AusPayNet has released their 2019 Annual Review. The review outlines their work this year which aims to deliver the best customer outcomes. Download the full report here. […]
Card-Not-Present (CNP) Fraud Mitigation Framework
Card-Not-Present (CNP) Fraud Mitigation Framework. The banking industry has commenced the execution phase of this framework, which aims to tackle the most prevalent type of card fraud. […]
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Card Not Present (CNP) Fraud: Keeping Pace in the Fraud Race
Card Not Present (CNP) fraud now accounts for almost 85% of all card payment fraud in Australia and further to this, CNP fraud seems to be growing 13% year on year at an industry level. […]
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