According to the 2025 Australian Payment Fraud Report, the total value of card fraud on Australian-issued cards increased by 20 per cent to $913 million in 2024, driven by an increase in overseas card-not-present (CNP) fraud. Overall, there was a 12 per cent year-on-year increase in the overall payment card fraud rate, from 70.2 cents per […]
Tag: scams
Targeting scams: Report of the National Anti-Scam Centre on scams data and activity 2024
This report provides insight into the scams targeting Australians in 2024 and highlights the impact of combined efforts by government, law enforcement, community sector and industry to combat these financial crimes. This is the second Targeting Scams Report produced by the National Anti-Scam Centre since its establishment on 1 July 2023. The National Anti-Scam Centre’s […]
Australian banks launch new defence in battle against scammers
Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord – […]
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How the Scam-Safe Accord is Making Banking Safer for Australians
With digital scams on the rise, Australians are demanding stronger protections for their finances. The Scam-Safe Accord, launched in late 2023, is a powerful new framework uniting major banks, regulators, and consumer advocates to tackle scams head-on and make banking safer than ever before. What Is the Scam-Safe Accord? The Scam-Safe Accord is a […]
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Indue launches ScamHub helping educate everyday Australians on threat of scams
With more than $2.74 billion lost by Australians to scams this year, market-leading payment solutions provider, Indue, has launched ScamHub — a complimentary customer website portal providing educational resources for their clients to help educate their employee and customers on scams. The initiative was made possible through Indue’s Illumin8 Social Impact program, a program dedicated […]
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Australian Payment Fraud 2024 Report
Featuring data and payments fraud trends for calendar year 2023, the Australian Payment Fraud Report 2024 highlights current trends and allows us to measure the success of existing, and develop further, industry mitigants. Key findings: Payment card fraud rate is up 22 per cent (70.2 cents per $1,000) in calendar year 2023 – the highest […]
AusPayNet – Payments Monitor
May edition […]
Scam losses decline, but more work to do as Australians lose $2.7 billion
The National Anti-Scam Centre’s collaborative efforts across government, law enforcement, consumer organisations and industry have boosted the community’s fight against financial crime, as the latest Targeting Scams report reveals a 13.1 per cent decline in reported losses to $2.74 billion in 2023. The report compiles data reported to Scamwatch, ReportCyber, the Australian Financial Crimes Exchange […]
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Development of industry Confirmation of Payee Solution
Australian Payments Plus (AP+) has resolved to work with NPP Participants to deliver a Confirmation of Payee service for payments made using BSB and Account numbers. Confirmation of Payee will help reduce certain types of scams that involve misdirection of payment to an account that does not belong to the intended payee as well as […]
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Protecting your digital identity
During this Scams Awareness Week, we’re sharing our top tips to combat scams. Tip: Protect your data like you protect your wallet! Financial institutions spare no effort in combating fraud and protecting their customers from scammers, and there are thousands of people working around the clock to protect you and your money. However, in recent […]
